For a percent retrace off a high value example, assume a retrace value of 33.0%. Also assume a within value of 5 bars and a over past value of 50 bars. Finally, assume the highest high over the past 50 bar is 45.00.
Investigator will first calculate the check value:
45.0 * ((100 - 33.0) * .01) = 30.15
If the low of any of the past 5 bars (the within value) is less than the check value, the percent retrace is complete.
For a percent retrace off a low value example, assume a retrace value of 33.0%. Also assume a within value of 5 bars and a over past value of 50 bars. Finally, assume the lowest low over the past 50 bar is 45.00.
Investigator will first calculate the check value:
45.0 + (45.0 * (1.0 - ((100 - 33.0) * .01))) = 59.85
If the high of any of the past 5 bars (the within value) is greater than the check value, the percent retrace is complete.