What is the difference between Opening Range and Period Max indicator

Streak - backtesting
1

Hi Team,

In Streak we have indicator like Opening Range and Period Max. How their output differs ?

I don’t see any clear documentation about functions( with example) given in zerodha Streak.

CaseA:- Close(0) higher then Opening Range(Close, Hour)
CaseB:- CLose(0) Higher then Period max(6, close(-1), +)

How the output will differ in both cases ?

2

@Streak can you.

3

@Streak, Kindly answer my Query.

Thanks in Advance.

4

CaseA: It will calculate the range of the first 1 hr candle range (H-L) and then send a notification once the close price is higher than the Opening Range High

CaseB: It will check if the current close price and is higher than the highest high of the last 6 candles.

The difference is that the Opening Range is a constant for the entire day while the Period Max is a variable. At 10:15, it will check the Highest high in the last last 6 candles i.e 5 candles from the previous day and the 9:15 to 10:15 candle. Peiod Max does not limit to current day data.

You can check this page for more info on Math Functions
https://help.streak.tech/scanner/

1 Like
5

Thanks for this clear explination.