At another forum there is a explaination about an indicator that measure the daily range in a kind of exponential way. the explanation goes like this:
I really love that indicator! I have attached it to this post.
But i wonder if it exist an indicator, similar as the one that is described in the quote above, but instead of only measure the whole day it measure between specific times. For example: Perheps i would like to know the range between 15:15 and 18:30 for some strange reason.
Anyway... i think you know what i mean...
I have searched this forum, other forums and internet for such an indicator but i can't find it? Perheps it is to difficult to make?? Advice would be appriciated.
Regards / JoLimoney
QuoteDislikedOk first how does this indicator work?: the indicator calculates the previous daily range. It takes the High minus the Low (Yesterday High - Yesterday Low). Then it does the very same for the last 5 previous days. It does that for each seperate day and then makes an average of those 5 days. Then it does the same for the last 10 previous days. And as last it does the same for the last 20 previous days. Of those 4 results it makes a new average. It calculates the averages as a exponential moving average would do.
I really love that indicator! I have attached it to this post.
But i wonder if it exist an indicator, similar as the one that is described in the quote above, but instead of only measure the whole day it measure between specific times. For example: Perheps i would like to know the range between 15:15 and 18:30 for some strange reason.
Anyway... i think you know what i mean...
I have searched this forum, other forums and internet for such an indicator but i can't find it? Perheps it is to difficult to make?? Advice would be appriciated.
Regards / JoLimoney
Attached File(s)
(T_S_R)-Daily Range Display#2.mq4
8 KB
|
380 downloads
(T_S_R)-Daily Range Calculator v2[1].0.mq4
7 KB
|
378 downloads