How to create (TC-BC) for yesterdays CPR

Hello team,

I tried creating a scanner where todays CPR range is less than yesterday CPR range, but unable to create conditions for yesterday TC - BC. Please help

Hello @nehamehta07

Check out the image below to learn how to create the scanner conditions:

You can also refer to the scanner link here: Streak | World's first algo trading platform without coding

As a workaround, we have simplified the formula for Top CPR - Bottom CPR as explained below:

Top - Bottom = [(High + Low + 4Close)/6] - [(High + Low)/ 2]

= (2H + 2L + 8C - 6H -6L)/12

= ( 8C - 4H - 4L)/12

= (2C - H - L)/3

The scanner will check for stocks whose current day’s CPR range is lower than the previous day’s CPR range. Please note that today’s CPR is calculated using the previous day’s OHLC hence we have used the offset as ‘-2’(previous to the previous day) as we want to create conditions for the previous day’s CPR.

You might be wondering why we have used the ‘Abs(absolute)’ function. This is because TC and BC can interchange hence both the conditions have been created inside the Abs function so that it meets the requirements.

To know about the indicator used to create the conditions refer below:

Prev N: Indicators - Streak Help

If you have any more queries you can ask here and I’ll be happy to help. Alternatively, you can also reach out to us at [email protected]