Description:
This study detects potential
turning points up or down in a price
series. This study has 2 output
indicators TurnUp or TurnDn. When
a TurnUp is detected the TurnUp Output
Inidicator has a value of 1, 0
otherwise. When a TurnDn is
detected the TurnDn Output Indicator has
a value of 1, or 0 otherwise.
A
TurnUp is detected in a price series if
p(-2) > p(-1) and p(0) >
p(-1)
A
TurnDn is detected in a price series if
p(-2) < p(-1) and p(0) <
p(-1)
Parameters:
Period:
Period with which to base the Turn
Study - calculatest the turn study
this many bars back
Arguments:
OHLC
or output indicator from another
study.
Output Indicators:
TurnUp
TurnDn
Example:
Study Name Expanded in a 3 minute timeframe:
I3_Turn(10)(Close)_I3
This study calculates
Turn study with a period of 10 on the 3 minute time frame,
using the close of the 3 minute bar as input argument
The output indicators names are appended to the studyname,
that is if the studyname is sn1 then
the outputindicator is
sn1::TurnUp
sn1::TurnDn
