Hello coders, can i ask for a favour for coding an indicator for me.
I am looking for an indicator which will see the close price with respect to the range of bar in percentage wise.
I dont know what to call it and hence i am not able to locate it also.
I will explain u so that u can help me.
suppose a up bar has high as 100 and low as 90 so the the range of bar (ATR 1) is ten points and if close is 98.5 and since its an up bar as compared to previous close the indicator value will be 85 %
since its up bar close (98.5) minus low (90) we get 8.5 which is divided by 10 which is range of the bar we get 85%. which will be plotted as 85 on indicator.
similarly for down bar if high is 156 and low is 144 so the range of bar (ATR 1) is 12 points and if close is 146 and since it is down bar as compared to previous close the indicator value will be -83.33%
since its down bar close (146) minus high (156) we get -10 which is divided by 12 which is range of bar we get -83.33%
so if u notice in case of up bars close will be subtracted from bar low and in case of down bars close will be subtracted from high.
so it will oscilate between +100 and -100
also it should be in histogram form otherwise lines going from -87 to +89 will difficult on eye
I am looking for an indicator which will see the close price with respect to the range of bar in percentage wise.
I dont know what to call it and hence i am not able to locate it also.
I will explain u so that u can help me.
suppose a up bar has high as 100 and low as 90 so the the range of bar (ATR 1) is ten points and if close is 98.5 and since its an up bar as compared to previous close the indicator value will be 85 %
since its up bar close (98.5) minus low (90) we get 8.5 which is divided by 10 which is range of the bar we get 85%. which will be plotted as 85 on indicator.
similarly for down bar if high is 156 and low is 144 so the range of bar (ATR 1) is 12 points and if close is 146 and since it is down bar as compared to previous close the indicator value will be -83.33%
since its down bar close (146) minus high (156) we get -10 which is divided by 12 which is range of bar we get -83.33%
so if u notice in case of up bars close will be subtracted from bar low and in case of down bars close will be subtracted from high.
so it will oscilate between +100 and -100
also it should be in histogram form otherwise lines going from -87 to +89 will difficult on eye