This indicator plot rectangle of Average Day Range of different periods and therefore how far the market travels on average.
So the marked levels could be used as support / resistance levels or objectives.
The indicator uses 20 day average.
Converted from a MT4 indicator as requested in the ProBuilder english forum.
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//PRC_TSR_DailyRange_display | indicator //11.12.2018 //Nicolas @ www.prorealcode.com //Sharing ProRealTime knowledge //translated from MT4 version defparam drawonlastbaronly=true if day<>day[1] then startbar=barindex FIVE=0 TEN=0 TWENTY=0 for i = 1 to 20 do if i<6 then FIVE=FIVE+(dhigh(i)-dlow(i)) endif if i<11 then TEN=TEN+(dhigh(i)-dlow(i)) endif TWENTY=TWENTY+(dhigh(i)-dlow(i)) next FIVE = FIVE/10 TEN = TEN/20 TWENTY = TWENTY/40 AV = (FIVE+TEN+TWENTY)/3 endif HIDaily = dhigh(0)-(AV) LOWDaily = dlow(0)+(AV) HIDaily1 = dhigh(0) LOWDaily1 =dlow(0) HIDaily2 = dhigh(0)-(AV)*2 LOWDaily2 =dlow(0)+(AV)*2 drawrectangle(startbar,HiDaily,barindex,LOWDaily) coloured(128,0,0) drawrectangle(startbar,HiDaily1,barindex,LOWDaily1) coloured(0,100,0) drawrectangle(startbar,HiDaily2,barindex,LOWDaily2) coloured(0,44,9) center=max(startbar+(barindex-startbar)/2,1) drawtext("Top Daily Range",center,LowDaily2,Dialog,Bold,16) coloured(244,164,96) drawtext("Bottom Daily Range",center,HiDaily2,Dialog,Bold,16) coloured(244,164,96) drawtext(" High",barindex,dhigh(0),Dialog,Bold,16) coloured(154,205,50) drawtext(" Low",barindex,dlow(0),Dialog,Bold,16) coloured(154,205,50) drawtext(" Open",barindex,dopen(0),Dialog,Bold,16) coloured(244,164,96) RETURN |
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Ciao Nicolas, ottimo indicatore, sarebbe possibile creare un trading system su questo indicatore, che acquisti quando il prezzo tocchi la linea “bottom” e venda quando il prezzo tocchi la linea “top”?
Bene, perché no, trovi che sia affidabile a lungo termine?
Non saprei, che ne dici di provare?
hello Nicolas, can I change the indicator that I only get the time of 8-9 clock displayed? and it can also change that
je constate que de plus en + de trader utilise des zones de prix pour leur positions. elles sont déterminées par un tracés de lignes des plus haut et plus bas sur 3 unités de temps par exemple. cela créé une zone d achat et une zone de vente. un tel inducteur existe t il d après vous ? Cordialement.
Pas à ma connaissance, mais on pourrait le coder, merci de formuler une demande dans le forum.
Steffen Schmauch • 12/11/2018 #
hello Nicolas, can I change the indicator that I only get the time of 8-9 clock displayed? and it can also change that
That would be a lovely option, how to you put that code in?
Please open a new topic in the indicator forum and explain there your query, thank you.
This seems like a very useful indicator. However, it does not seem to open properly in the current version of PRT?