Range yesterday between 3:30 p.m. and 10 p.m

• 09/17/2023 at 8:49 AM #221156
  phoentzs

  How can I set a range that refers to the previous day, i.e. yesterday, between 3:30 p.m. and 10:00 p.m.? So when I trade today I want to refer to the highs and lows of yesterday between 3:30 p.m. and 10:00 p.m.

  

  phoentzs

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  09/18/2023 at 10:00 AM #221199
  robertogozzi

  There you go:

  ONCE HH = high //today's HIGH ONCE LL = low //today's LOW ONCE yHH = high //yesterday's HIGH ONCE yLL = low //yesterday's LOW IF OpenTime >= 153000 AND OpenTime <= 220000 THEN IF OpenTime = 153000 THEN yHH = HH yLL = LL HH = high LL = low ENDIF HH = max(HH,high) LL = min(LL,low) ENDIF

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  ONCE HH  = high    //today's HIGH ONCE LL  = low     //today's LOW ONCE yHH = high    //yesterday's HIGH ONCE yLL = low     //yesterday's LOW IF OpenTime >= 153000 AND OpenTime <= 220000 THEN    IF OpenTime = 153000 THEN       yHH = HH       yLL = LL       HH  = high       LL  = low    ENDIF    HH = max(HH,high)    LL = min(LL,low) ENDIF

  

  robertogozzi

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  09/18/2023 at 2:19 PM #221214
  MaoRai54

  Roberto,

  sorry but I really cannot understand this snippet.

  Are you so kind to explain it ?

  Many thanks 🙂

  

  MaoRai54

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  09/18/2023 at 3:39 PM #221218
  LucasBest

  Range of 153000 220000

  ONCE HH = high //today's HIGH ONCE LL = low //today's LOW IF OpenTime >= 153000 AND OpenTime <= 220000 THEN IF OpenTime = 153000 THEN HH = high // at 15h30 hh store the high of the 1st candle LL = low // at 15h30 hh store the low of the 1st candle ENDIF // Every candle after 15h30 and before 22h00 update HH if High of the candle is higher than previous HH HH = max(HH,high) // Every candle after 15h30 and before 22h00 update LL if low of the candle is lower than previous LL LL = min(LL,low) ENDIF

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  ONCE HH  = high    //today's HIGH ONCE LL  = low     //today's LOW   IF OpenTime >= 153000 AND OpenTime <= 220000 THEN    IF OpenTime = 153000 THEN       HH  = high // at 15h30 hh store the high of the 1st candle       LL  = low  // at 15h30 hh store the low of the 1st candle    ENDIF    // Every candle after 15h30 and before 22h00 update HH if High of the candle is higher than previous HH    HH = max(HH,high)    // Every candle after 15h30 and before 22h00 update LL if low of the candle is lower than previous LL    LL = min(LL,low)   ENDIF

  Now as you want the range of previous day, you want to store the range of the day in previous day variables before any updates of HH and LL, so it is first thing to do at 15h30

  so you add this

  yHH = HH yLL = LL

  1 2	yHH = HH yLL = LL

  Now you can draw 2 segmnents using yHH and yLL

  1 user thanked author for this post.

  robertogozzi

  

  LucasBest

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  09/18/2023 at 3:57 PM #221220
  robertogozzi

  @MaoRai54

  what LucasBest wrote is correct, is that all you need to know?

   

  

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  09/18/2023 at 7:15 PM #221234
  phoentzs

  Thank you, Roberto. And now we’re building a range breakout system with SL at the opposite end and a TP of 1.5*Range… would something like that be profitable?

  

  phoentzs

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  09/18/2023 at 7:59 PM #221241
  LucasBest

  I’ve read here below that : “If a trending stock makes a new high after 11:15-11:30am EST, there is a 75% chance of closing within 1% of High of day (HOD). Same applies for downtrend.”

  https://fr.tradingview.com/script/j5fydEzi-Drip-s-11am-rule-breakout-breakdown-OG/

  

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  09/19/2023 at 8:21 AM #221253
  JC_Bywan

  The If statement:

  IF OpenTime >= 153000 AND OpenTime <= 220000 THEN

  is ok if you want to include the candle starting at 22h in your range. In case you don’t (last candle before 22h as last candle of range), then the if statement becomes:

  IF OpenTime >= 153000 AND OpenTime < 220000 THEN

  

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  09/19/2023 at 10:42 AM #221261
  phoentzs

  Can you please code me a simple breakout system from this?

  

  phoentzs

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  09/19/2023 at 10:58 AM #221263
  phoentzs

  I tried with following logic in Nasdaq TF M15. But it doesn’t look really good.

  Long = HH crosses over yHH Longex = close crosses under LL and Exit=1 Short = LL crosses under yLL Shortex = close crosses over HH and Exit=1

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  Long   = HH crosses over yHH   Longex = close crosses under LL and Exit=1 Short   = LL crosses under yLL Shortex = close crosses over HH and Exit=1

  

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