I just added options for 3rd and 4th Highest/Lowest for next release. One thing I noticed in the process....if for instance you are computing the 2nd Highest High of all bars of the session, the result would be zero on the 1st bar, because technically there is no 2nd highest. But I think a better approach would be to assume both the highest, 2nd highest, 3rd highest, and 4th highest are all a tie at that point (1st bar) and should all be the same price (high of 1st bar). That would also eliminate the zero values that can impact scaling. Agree?
"But I think a better approach would be to assume both the highest, 2nd highest, 3rd highest, and 4th highest are all a tie at that point (1st bar) and should all be the same price (high of 1st bar). That would also eliminate the zero values that can impact scaling. Agree?"
Yea I would agree for the 1st bar the starting point should all be the same. Then the 2nd Highest price stair steps down, 3rd Highest price stair steps down etc. This would allow me to build a trading system Last >= 2nd highest, enter short sell. and use targets such as 3rd lowest price as sell stop.
I really wish there was a cookbook for the more advance features of the RTL language. I get stuck on things constantly and it's because I have not learned how to appropriately apply things correctly. For example ZZO ---> setting retracement 50%. I am not exactly sure how to build a signal on it. That is just one example. I have been posting my questions in the Fourm but you are only one person with a lot of complex questions to answer. I would be willing to pay for a Udemy class on just programming in the RTL language
I just added options for 3rd and 4th Highest/Lowest for next release. One thing I noticed in the process....if for instance you are computing the 2nd Highest High of all bars of the session, the result would be zero on the 1st bar, because technically there is no 2nd highest. But I think a better approach would be to assume both the highest, 2nd highest, 3rd highest, and 4th highest are all a tie at that point (1st bar) and should all be the same price (high of 1st bar). That would also eliminate the zero values that can impact scaling. Agree?
"But I think a better approach would be to assume both the highest, 2nd highest, 3rd highest, and 4th highest are all a tie at that point (1st bar) and should all be the same price (high of 1st bar). That would also eliminate the zero values that can impact scaling. Agree?"
Yea I would agree for the 1st bar the starting point should all be the same. Then the 2nd Highest price stair steps down, 3rd Highest price stair steps down etc. This would allow me to build a trading system Last >= 2nd highest, enter short sell. and use targets such as 3rd lowest price as sell stop.
I really wish there was a cookbook for the more advance features of the RTL language. I get stuck on things constantly and it's because I have not learned how to appropriately apply things correctly. For example ZZO ---> setting retracement 50%. I am not exactly sure how to build a signal on it. That is just one example. I have been posting my questions in the Fourm but you are only one person with a lot of complex questions to answer. I would be willing to pay for a Udemy class on just programming in the RTL language