Lowest Low Value
Definition
The Lowest Low Value study is straightforward but invaluable. It scans past trading data within a specified range to identify the lowest traded price, intentionally excluding the current bar. This gives you a quick snapshot of how the current price stacks up against the recent lowest low.
Suggested Trading Use
When you're looking for a simple way to gauge the health of a particular stock or market, turn to the Lowest Low Value study. If the current price is below the recent lowest low, it might be a red flag that the asset is underperforming. This could be a cue for you to exercise caution or consider potential exit strategies.
On the flip side, if the current price is above the recent lowest low, it could indicate that the asset has recovered somewhat, giving you an added layer of confidence in a bullish scenario.