Detecting Intersections of Previous Highs and Lows

Summary

This short indicator description explains a calculation that identifies intersections involving the previous bar’s high and low prices. It says the indicator updates when a new bar appears and does not recalculate within a forming bar. This makes its output dependent on completed-bar transitions rather than intrabar price movement.

The document gives no precise definition of what constitutes an intersection, no formula, chart example, or trading rules for interpreting the result. It also provides no backtest or performance evidence. As a result, it offers only a high-level description of the indicator’s timing and inputs; users would need implementation details to determine how intersection events are identified and whether they are useful for a particular instrument or timeframe.

Key ideas

• The indicator calculates intersections using previous high and low prices.\nIt updates when a new bar appears.\nIt does not calculate within a forming bar.\nThe description does not specify the intersection formula or provide performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.