Abbreviation: Avg Envelope Low Breakout
Category: Crossover & Breakout Identification
Input Parameters:
| Name | Range | Default |
| Time Series | Close | |
| Avg Periods | Int >= 1 | 5 |
| Envelope Fraction | Real > 0.0 | 0.25 |
Calculation:
If (X < Y) and (most recent previous period where X did not equal Y, X was greater than Y) then 1
Otherwise 0
where
X = Time Series
Y = Avg Envelope Low(Time Series, Avg Periods, Envelope Fraction)
Avg Envelope Low represents Simple Avg Envelope Low
Discussion:
Indicates the period when a Time Series has just broken out below its Simple Moving Average Envelope Low.