Most recent new low

[Tonkingrf1551]

Good afternoon,

I am trying to find the most recent "new low" in a given range.

I have been using

lowestPrice = MIN(Low, Lookback)[0];

this gives me the absolute low in the given range.

I would like to find the most recent low of a candle whos Low is less then the prior candle; in the last X amount of candles.

The look back period is dynamic so I am not sure which way to approach this be cause I can't just ask if (Low[1] < Low[2] ... ) because the lookback period could be 5 or 500 days.

Hope this makes sense and thank you very much in advance for any help.

Ryan

[NinjaTrader_ChrisL]

Hi Ryan, thanks for posting.

You would get the bar number of the Low value that you want first. There's an example of doing this here:

https://ninjatrader.com/support/forum/forum/ninjatrader-8/indicator-development/1109055-how-to-find-lowest-bar-value-within-a-range-of-bars?p=1109165#post1109165

Then you would use lowestPrice = MIN(Low, BarsArray.Count)[lowbarsAgo] to find the lowest value beyond that point. When you give MIN a previous index the function will start at that point in the price array.

Kind regards
-ChrisL

[Tonkingrf1551]

Thanks for the reply Chris, If I understand correctly, yes I have the lookback window defined. I have attached a picture of an example of the defined lookback period with an arrow of the bar I want to identify. However the bar that I want to identify is not the lowest bar in that lookback period, it is the most recent bar whose Low is lower then the previous bar. Thanks again for your help and sorry if I am misunderstanding your post or the example post.

[Tonkingrf1551]

[NinjaTrader_ChrisL]

Hi, thanks for the follow up.

There could be several ways of doing it. It's all possible with C# programming and using the price series arrays to evaluate the prices of the series. One way to do it would be to keep track of each bar update:
private int savedBar;

//in OnBarUpdate:
if(CurrentBar < 2) return;

if(Low[1] < Low[2] && Low[1] < Low[0])
{
    Draw.Dot(this, "markedBar", false, 1, Low[1]-TickSize*2, Brushes.Red);
    savedBar = CurrentBar-1;
}

You can use savedBar in later bars to reference the price with

var x = Close.GetValueAt(savedBar);
or
Close[CurrentBar - savedBar];