BD,

Thanks, another small incremental change in coding (below) makes it easier to visually pick up break outs, by just delaying the channel one period. I've played around a bit and the indicator is useful for not just break outs but also when prices are range bound. Some interesting results even on a stand alone basis when backtested with Tradesim... 

[author=Cameron, Rod]

[target=price]

expr:= Expression("Expression",C);

a:= input("Step %", 21, 0, 100);

b:= a/100;

base:= if(hist(expr,1)>=prev(expr)*(1+b), prev(hist(expr,1))*(1+b),

if(hist(expr,1)<=prev(expr)*(1-b), prev(hist(expr,1))*(1-b),

prev(expr)));

upper:= base*(1+b);

midup:= base*(1+b*0.618);

middn:= base*(1-b*0.618);

lower:= base*(1-b);

[linestyle=solid; color=blue]

[name=Upper]

[name=Base]

[name=Lower]

[linestyle=dotted; color=red]

[name=Midup]

[name=Middn]

[linestyle=fill; color=green]

[name=Top Fill]

[color=red]

[name=Bot Fill]

Thanks blackdog always a help!

Congratulations BD you get the cigar - at least on paper because after some other insights provided to me today I was able to code exactly what I was after before having read your post. (yeah..sure  ) It is pretty much the same as your coding with a minor difference and some colors. For those interested it is:

 [target=price; author=Cameron, Rod; category=zzz]

expr:= Expression("Expression",C);

a:= input("Step %", 21, 0, 100);

b:= a/100;

base:= if(expr>=prev(expr)*(1+b), prev(expr)*(1+b),

if(expr<=prev(expr)*(1-b), prev(expr)*(1-b),

prev(expr)));

base;

upper:= base*(1+b);

upper;

lower:= base*(1-b);

lower;

[linestyle=fill; color=green]

[color=red]

Ahhh now i see what you might be after.. Percentages vary from  chart to chart too much to be effective on their own.  So perhaps this support and resistance level indicator I wrote last month would be useful.  It uses a moving average as it's reference point to switch the line up or down, depending if it closes above or below that average.   You'l see it's very effective for breakouts up or down (breakdowns). 

[Target=price]

LookBack := Input("Look Back Periods",20,1);

F:=input("Labels (1=On, 0=Off)",1,0,1);

A:=input("Average (1=On, 0=Off)",1,0,1);

Resistance := ValueWhen(1,Cross(ma(C,LookBack,S),C),HHV(H,LookBack+10));

Support := ValueWhen(1,Cross(C,ma(C,LookBack,S)),LLV(L,LookBack+10));

[color=blue]

[color=red]

[color=rgb(255,204,0)] {Gold}

if(A,ma(C,LookBack,S),undefined);

[linestyle=marker; marker=type2; name=Breakout]

BO:=if(F AND C>Resistance AND hist(Close,1)<=Resistance,1,0);

if(BO and hist(barssince(BO),1)>8,1,0);

[linestyle=marker; marker=type1; name=Breakdown]

BD:=if(F AND C<Support AND hist(Close,1)>=Support,1,0);

if(BD and hist(barssince(BD),1)>8,1,0);

Okay Rod, missing just one key ingredient, like a reference over what period?  Is the requirement to use a Moving Average of this percentage over a number of bars?  orrr Highest - Lowest of a period of days?    which also determines when the line will go down instead of up.

Here's a test indicator that shows daily percent range.  As you can see its very choppy and needs a reference over a period of time like an Average or HHV.   I used hist() to factor in any gaps between bars.

[color=blue]

Bperc:=(H-L)/hist(L,1);

Bperc;

[color=lime green; linestyle=dotted]

HHV(Bperc,8);

[color=red; linestyle=dotted]

LLV(Bperc,8);

After trying a couple of approaches to the coding, most of which were much more complex, the example below is the simplest method that illustrates the desired end result. The shortcoming with the example is that it uses the zig zag (peak) method so the step increments are not necessarily close to the target input step increment since the peaks can be much greater than the input step increment. Also, the latest peak on the plot can change because of the way the zig zag (peak) function works. The outcome I want is to use the first close or high that breaches the input step increment in either an up or down direction.  Anyone got any ideas on a better way to code? RODCAM

[target=price]

inc:= input("Step increment",5);

pds := input("High periods",1);

hhv(peak(1,C, inc),pds)

Maximo I drafted a clarification but somehow it did not get posted because I pushed the wrong button, so I'll try again. I want to create an indicator similar to the highest high (i.e. a step plot of prices showing series of plateaus with step ups and down) except that I want to set the minimum incremental step size, say to  10% as an example, which is plotted as a step chart. The plot would not show a step up or down unless the cumulative step increment/decrement was breached by the actual high price. For simplicity, let’s just use the table below to clarify. The step chart plot stays flat at 5.00 until the actual high price breaches the cumulative 10% step level (i.e. 5.0 +10% or 5.00 – 10%) in the first instance it is at period 6 when the actual high equals 5.50. The plot then remains flat until the next point where the step level is breached. (i.e. period 8 or 8.00) the plot then falls to 4.00 at period 10. My confusion relates to how to code so the  reference point for calculating the cumulative step (i.e. at the point of each step up or down). On reflection perhaps my dilemma and shortcomings are much more deep seated.  Any assistance you can offer is greatly appreciated. RODCAM

Step level = 10%

Period:              1 ;     2;       3;       4 ;      5;      6;        7;        8;       9;       10;

Actual price : 5.00; 5.10; 5.20; 5.30; 5.40; 5.50; 5.80; 8.00; 8.50; 4.00;

Plot:         & nbsp;        5.00; 5.00; 5.00; 5.00; 5.00; 5.50; 5.50; 8.00; 8.00; 4.00;

Hi,

Not quite sure what you mean.. like a picture says a 1000 words but unfortunately we dont have one.   I worked on this percentage based indicator for visualising a % stoploss and also for confirmation of rising trends etc.   It filters out the noise okay and you maybe able to adjust it to your needs. 

[citation=Percentage Trailing Stop]

[LineStyle=Solid; Target=Price; Color=Dodger Blue]

Period:=input("LinearReg Average", 15, 1);

Displace:=input("Risk Percent %", 2, 0);

Flag:=input("Retreat (1=On, 0=Off)",1,0,1);

DD:=If (Flag=0,Period,2);

calc:= If(LinearReg(C,period)<PREV,If(LinearReg(C,period)+(ATR(period)*DD)<PREV,LinearReg(C,period)+(ATR(period)*DD),PREV),LinearReg(C,period));

calc*(1-Displace/100);

Anyone able to help with an indicator I am trying to code. Conceptually all I want is to plot the closing price in steps as it increases or decreases by a set input percentage, a bit like a Renko chart but shown as a line chart. As an example, if the closing price starts a $5.00 and the input step amount is 10% the plot will show a $5 price until the actual close  increases to $5.10 or it decreases to $4.90 etc. The plot continues but price increases or decreases are only shown as 10% increases or decreases. The intention is simply to filter out the noise in price movements until the price increases or decreases by the set amount (i.e. 10%). Therefore, the chart would appear as a series of 10% steps rather than fluctations of 1% or 2% or whatever revealed by a normal plot of closing prices. Not sure if the coding below helps but it may help explain what I am trying to achieve even though it does not work as I intended. The steps don't have to be precisely the input step increments but this is the minimum level in the step. For example, if the price increased by 12% then a step increase in the price by 6% would be shown in the plot, rather than just 10%.

increase:= input("Step Size %",5);

prev(if(C> hist(c,1)*(1+increase/100) OR

C< hist(c,1)*(1-increase/100),

C,

if(C> hist(c,1)*(1+increase/100),

hist(c,1)*(1+increase/100),

hist(c,1)*(1-increase/100))));

Cheers

RODCAM