Adjustable daily range price box indicator

I would be very grateful if anyone can either adapt this box breakout indicator or direct me to one that exists already

The attached indicator is great but I want to be able to set the top and bottom of the box based not only on time but also on price. I want to do this so that I can create a box based upon the average daily range of a currency pair

So for example say the average range is 150 pips and the price is trending upwards. If the price retraced to 1.5200 by 07.00am GMT and that appears to be the low for the day I would be able to create a box that goes from 1.5200 to 1.5350 starting at 07.00am GMT and going to 17.00pm

Anyones help would be greatly appreciated I have spent a long time looking to see if this already exists

hi,

the problems with your request are :
1. "price is trending upwards"
2. "appears to be the low for the day"

maybe you can post a chart to make it clearer

Hi Sangmane,

I am sorry it was not clear and I really appreciate you trying to help.

This is what I am looking to do if you look at the attached chart showing GBP USD for today. Yesterday the Average True Range was 149 pips (using a 14 day ATR). I have shown a vertical line at 12.00am GMT (only as a reference point). The low of the day came at 06.20am GMT this morning (please note that the Alpari chart I am using is GMT + 1hr). You will see that I have started the box just before that time

What I cannot do is fix the height of the box to a certain number of pips above the price level of the low. I can only set the end of the box at a certain time. In this example I choose to end the box at the high at 09.50am

I would like the box to be showing on the chart at the height that I dictate. So in other words you would only see part of the box unless you enlarge the height of your chart. So in this example it would show as 149 pips from the price level that I choose which would be what I though was the low for the day

Please note that we need to be able to set the height of the box from both the low (if you are looking long) and the high (if you are looking short)

Many thanks it is really appreciated

I thought that it is worth explaining how I would use this indicator. I would take 80% of the prior days ATR and use this for the box height.

Then if it was clearing moving in a particular direction it would be a very helpful guide to ensure that I stayed in the trade longer rather than selling out early which I tend to do

Anyone having any luck or need more info ?

Here are the charts Cloggie

Cloggie here it is