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I'd like to write a study to create momentum bars. The definition of momentum I'm using is from close to close and so range bars are not what I'm looking for.
If I create a momentum chart of, say, 10 ticks, then whenever the current bar closes 10 ticks away (up or down) from the previous close, I want to create a new bar.
Does anyone know if this has already been done and if not, are there some examples of efs' that create price studies I could use to create a new efs?
Thanks in advance.
If I create a momentum chart of, say, 10 ticks, then whenever the current bar closes 10 ticks away (up or down) from the previous close, I want to create a new bar.
Does anyone know if this has already been done and if not, are there some examples of efs' that create price studies I could use to create a new efs?
Thanks in advance.