Stepped price Indicator

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

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;

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);

[color=lime green; linestyle=dotted]

HHV(Bperc,8);

[color=red; linestyle=dotted]

LLV(Bperc,8);

Thanks blackdog always a help!