Levels and Measures Nodes

The levels a rule reads and how far price is from them: Price History, Pivot Levels, Distance, Range Levels and Bands.

ReferenceBy AlgoLiftUpdated 1 min read

A surprising number of trading ideas are about a level. Yesterday's high. The opening range. The 20-bar low. A pivot. These nodes produce those levels correctly, from completed bars, so a rule never compares a bar with a window that already contains it.

Price History is the workhorse: the highest, lowest, average or total of any bar field over a window of bars, sessions, weeks, the opening range or a time of day. Pivot Levels gives the classic floor-trader levels. The measure nodes answer the next question, which is how far away price is. Distance says it in points, ticks, percent, ATRs or standard deviations, Range Levels places price inside a high-low range, and Bands draws lines at a center plus or minus multiples of a width.