![]() The fill color of the box is determined by which way the consolidation was found and a user input (see SDevBox_Color and ConsolBox_Color).īecause periods of consolidation are sometimes associated with low volume the tutorial also changes the color ![]() When a period of possible consolidation is found, tutorial 177 draws a box around it with the high of the box being the highest close of the price in the box and the low being the lowest low close of price in the box. The tutorial program then looks for when these values go below a user input percentile. The ‘Consolidation Index’ by taking the average of true high over a number of bars, subtracting the average of the true low and dividing the result by the Average True Range.Tutorial 177 attempts to recognize periods of consolidation by calculating: During consolidation the instrument typically trades within a limited price range. Consolidation describes a period in time when a stock or security is not in or reversing a larger price trend.
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