This new block allows you to trigger an action based on the position of the price compared to the HH (Higher High), LL(Lower Low) or Median Price. But a picture is worth a thousand word so here is how it looks.
As you can see you have multiple settings, here’s how they are used :
- Analysis period: As always, it is the period you want to base your analysis on.
- Length: This is the length( in candles of the period you chose, so 20 * 4h = 20 4h candles = 3.3 days). on which the range based on.
- Price Position: You can choose between Below and Above, changing this setting will determine when you want the block to be triggered.
- Related to: You can choose HH(the highest price ever achieved on the last x candles), LL(the lowest price ever achieved on the last x candles), or median price (the median price of the last x candles).
- Distance Threshold: This is the minimum percentage by which the price needs to be compared to your settings.