Neuroshell Trader Example 3 - True Range and Multiple Pages

Hi, today I will explain how to create example 3, True Range and Multiple Pages.

I assume you already follow previous posts Example 1 and Example 2 to understand this post. 

 Ok, let's begin 

•  1. Open Chart Example 3 - True Range and Multiple Pages. Click File -> Open -> navigate to the directory C: \ NeuroShell Trader 5 \ Charts \ -> select Example 2 - True Range and Multiple Pages -> Open. 
• It might open the tutorial window. To remove the page Help -> Interactive tutor.
• In Example 3 you will create an indicator using the Arithmetic Max3 function. We can interpret it to build this indicator from the Maximum value of 3 Operands: 

• Abs (Sub (High, Low)) = The absolute value of the difference between the High and Low values of the current Bar 
• Abs (Sub (High, Lag (Close, 1))) = Absolute Value of Difference between the Current High Value and the Closing Value of one bar Previous 
• Abs (Sub (Low (Close, 1))) = Absolute value of the Difference between the Current Low and the Closing Value of one bar Previous 

Open any chart so that it looks like this

Now we make the indicator

• make True Range Indicator = Insert -> New Indicator -> Arithmetic -> Max3 -> Operand # 1 filled with Abs (Sub (High, Low))   -> Operand # 2 filled with Abs (Sub (High, Lag (Close) , 1))) -> Operand # 3 is filled with Abs (Sub (Low (Close, 1))) click Finished.
• Change the Indicator Name to True Range
• Save this custom chart by clicking File -> Save As -> Name = Example 3, save it in the Exercise folder -> click Save 

Now we have finished creating the indicator like in Example 3. 

The last display looks like this :

Now we analyze the movement of the indicator.

• on the Example 3 Zoom chart so that the candlesticks and True Range Indicators are clearly visible

First try to pay attention to block 1 and block 2, based on the formula on the True Range, the value of candle 2 is greater than candle 1, so the indicator is marked by an upward line, then candle 3 is smaller in value than candle 2 so the true range line drops to show a smaller value. 

The calculations are the same. Please explore.

we have created and understanding the True Range indicator