"Microwave Oven" Indicator - page 2
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Aku - This is something I had done manually years ago. Figure the average value of the past 10 bars highs (10 is arbitrary, more may be better. I was using daily charts at the time); figure the % increase to the highest value in the series; use that % to determine if a breakout has occured. Example: average value of highs for past 10 bars is 20. The highest value in the series was 24. This gives a value of 20%. 20% above 24 gives you 28.8. A cross thru 28.8 would signal a breakout of the range. Enjoy