ICT True Day Range [MK]The indicator displays the following:
Vertical line day separator from 00:00 to 00:00 EST
High/Low lines for the days true range from 00:00 to EOD
Opening line from 00:00 EST to EOD
Opening line from 08:30 EST to EOD
Weekly Opening line from Sunday open at 18:00 EST to last bar in the week
Monday range high/low/mid line, which can be extended to EOW
Text displaying Days of the Week
All functions can be fully customized regarding color/style and line width.
Below shows image of indicator with day separator: (it didn't show on the main chart despite being enabled?)
All of the above are to be used to give the user all the tools necessary to analyze the following concepts which can be studied on ICTs you tube channel:
Weekly profile, eg, has the weekly manipulated below the weekly open to then rise the rest of the week?
Daily profile, eg, has the day manipulated below the daily open (00:00 EST) to then rise the rest of the day?
Daily liquidity grab, eg has the current day taken PDH/PDL at the start of the current day?
Daily targets, eg will the current day end up taking liquidity from the PDH/PDL?
Monday range, will Mondays high/low range act as the accumulation phase of the weekly AMD profile?
Tuesday/Wednesday/Thursday/Friday reversal, eg, does a day of the week line up with a HTF target and a high volatility news event which could see price reverse after the manipulation phase of the weekly AMD profile?
In strong trending markets, will the 0830 open line be used in the NY session as manipulation reference in the same manner as the 00:00 line is normally used?
The above examples of how the indicator 'could' be used are not the only ways to use the indicator.
The indicator is by no means a trading strategy on its own. Users should be fully aware of ICT concepts and have performed extensive back-testing before using the indicator with live accounts.
Cari dalam skrip untuk "range"
Globex, Extended, Daily, Weekly, Monthly, Yearly Range* Adds Right Side Only Price Line & Labels for Tracking without Extending Both Sides
* Tracks Current, Previous, and Two Previous Globex Sessions/ Futures:
* Tracks Current, Previous, and Two Previous Extended Session/ Stocks:
* Tracks Current, Previous, Two, & Three Previous Day Session/ Equities:
* Tracks Current, Last, Two, Three, Four, & Five Week Session/ Equities:
* Tracks Current, Last, Two, Three, Four, & Five Month Session/ Equities:
* Tracks Current, Last, Two, Three, Four, & Five Year Session/ Equities:
* Allows Custom Range on Globex, Extended, & Daily Sessions
* Allows Custom Range on Weekly, Monthly, & Yearly Sessions
* Lines & Labels Are Not Visible on Chart Scales
* Reversible Text & Background Color
* Lines Extend Accordingly with Range
* Labels show Price & Percent Change
* Background Colors should match Chart Color to avoid Overlapping Text & Labels
* Lines have Offset Extension
* Labels have Offset Extension
* Globex Session is only visible on Futures & if Current Timeframe is Intraday
* Extended Session is only visible on Stocks & if Current Timeframe is Intraday
* Daily, Weekly, Monthly, & Yearly Sessions are visible on All Symbols & All Timeframes
* Globex, Extended, & Regular use their Default Time Sessions but allow Customization
* For Back Testing Default Sessions, switch over on the Menu to Style and Turn On/Off their Background Color; Any Area on the Chart Without Background Color is Regular Session
Volatility Price RangeThe Volatility Price Range is an overlay which estimates a price range for the next seven days and next day, based on historical volatility (already available in TradingView). The upper and lower bands are calculated as follows:
The Volatility for one week is calculated using the formula: WV = HV * √t where:
WV: one-week volatility
HV: annual volatility
√: square root
t: the time factor expressed in years
From this formula we can deduce the weekly volatility WV = HV * √(1 / 52) = HV / 7.2 where 52: weeks in a year.
The daily volatility DV = HV * √(1 / 365) = HV / 19.1 where 365: days in a year.
To calculate the lower and upper value of the bands, the weekly/daily volatility value obtained will be subtracted/added from/to the current price.
CPR (Central Pivot Range)Central Pivot Range is a trend and volatility forecasting tool. It is calculated from previous session's (day, week, or month) high, low, close values. It works on the idea that every trading session must be the result of its previous trading session.
Pivot, top pivot and bottom pivot values form the CPR. If the CPR for each trading session is getting higher (and also the price is trading above it) then it denotes bullish bias and vice versa for bearish. And the width of the CPR (i.e., distance between top and bottom pivot) denotes the volatility of the session.
If the CPR width is narrow, we can expect a trending or volatile trading session. If it's wide, then we can expect a range bound or sideways trading session.
Support and Resistance levels can be used as a profit booking zone or to add/reduce position sizing.
In this Indicator you have the following:
1. CPR with traditional support and resistance levels (S1-S5 & R1-R5).
2. Developing CPR for next trading day, week, and month.
3. Customizable lookback period, line width.
4. Option to show/hide labels, prices, SR levels, developing CPR.
True Range/Expected MoveThis indicator plots the ratio of True Range/Expected Move of SPX. True Range is simple the high-low range of any period. Expected move is the amount that SPX is predicted to increase or decrease from its current price based on the current level of implied volatility. There are several choices of volatility indexes to choose from. The shift in color from red to green is set by default to 1 but can be adjusted in the settings.
Red bars indicate the true range was below the expected move and green bars indicate it was above. Because markets tend to overprice volatility it is expected that there would be more red bars than green. If you sell SPX or SPY option premium red days tend to be successful while green days tend to get stopped out. On a 1D chart it is interesting to look at the clusters of bar colors.
Average Range PercentageIt is indicator for average percent range (range from high to low of stock/index price) of N days,
This will help to find high percentage moving stock/index for intraday.
Focused Average True RangeThe Focused Average True Range (FATR) is a modified version of the classic Average True Range (ATR) indicator. It is designed to provide traders with more accurate data on volatility, minimizing the impact of sharp spikes in volatility.
The main distinction between the Focused ATR and the standard ATR lies in the utilization of percentiles. Instead of calculating the average price change as the regular ATR does, the Focused ATR selects a value in the middle of the range of price changes. This makes it less sensitive to sharp changes in volatility, which can be beneficial in certain trading scenarios.
Settings:
Percentile. This parameter determines which value in the series of price changes will be used. For example, if the percentile is set to 50, the indicator will use the median value of the series of price changes. This is the default value. Imagine a class of students lined up by height, and instead of calculating the average height of all students, we take the height of the students in the middle of the line. Similarly here, we take the ATR from the middle of the series. Increasing the percentile will lead to the use of a value closer to the upper bound of the range, while decreasing the percentile will lead to the use of a value closer to the lower bound.
How to Use:
The Focused ATR is especially useful for determining the sizes of stop-losses and take-profits, thanks to its ability to consider the value in the middle of the series of price changes rather than the average value. This allows traders to more accurately assess volatility and risk, which in turn can assist in optimizing trading strategies
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Фокусированный Средний Истинный Диапазон (Focused ATR) представляет собой модифицированную версию классического индикатора ATR. Он разработан с целью предоставления трейдерам более точных данных о волатильности, минимизируя влияние резких скачков волатильности.
Основное отличие Фокусированного ATR от стандартного ATR заключается в использовании процентиля. Вместо того, чтобы рассчитывать среднее значение изменений цены, как это делает обычный ATR, Фокусированный ATR выбирает значение в середине диапазона изменений цены. Это делает его менее чувствительным к резким изменениям волатильности, что может быть полезно в некоторых торговых сценариях.
Настройки:
Процентиль. Этот параметр определяет, какое значение в ряду изменений цены будет использоваться. Например, если процентиль равен 50, то индикатор будет использовать медианное значение ряда изменений цены. Это стандартное значение. Представьте себе, что ученики класса выстроились по росту, и мы считаем не средний рост всех учеников, а берем рост учеников из середины колонны. Так и тут. Мы берем ATR из середины ряда. Увеличение процентиля приведет к использованию значения, ближе к верхней границе диапазона, в то время как уменьшение процентиля приведет к использованию значения, ближе к нижней границе.
Как использовать:
Фокусированный ATR особенно полезен для определения размеров стоп-лоссов и тейк-профитов, благодаря своей способности учитывать значение в середине ряда изменений цены, а не среднее значение. Это позволяет трейдерам более точно оценить волатильность и риск, что в свою очередь может помочь в оптимизации торговых стратегий.
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Wyckoff Range StrategyThe Wyckoff Range Strategy is a trading strategy that aims to identify potential accumulation and distribution phases in the market using the principles of Wyckoff analysis. It also incorporates the detection of spring and upthrust patterns.
Here's a step-by-step explanation of how to use this strategy:
Understanding Accumulation and Distribution Phases:
Accumulation Phase: This is a period where smart money (large institutional traders) accumulates a particular asset at lower prices. It is characterized by a sideways or consolidating price action.
Distribution Phase: This is a period where smart money distributes or sells a particular asset at higher prices. It is also characterized by a sideways or consolidating price action.
Input Variables:
crossOverLength: This variable determines the length of the moving average crossover used to identify accumulation and distribution phases. You can adjust this value based on the market you are trading and the time frame you are analyzing.
stopPercentage: This variable determines the percentage used to calculate the stop loss level. It helps you define a predefined level at which you would exit a trade if the price moves against your position.
Strategy Conditions:
Enter Long: The strategy looks for a crossover of the close price above the SMA of the close price with a length of crossOverLength and a crossover of the low price above the SMA of the low price with a length of 20. This combination suggests the start of an accumulation phase and a potential buying opportunity.
Exit Long: The strategy looks for a crossunder of the close price below the SMA of the close price with a length of crossOverLength or a crossunder of the high price below the SMA of the high price with a length of 20. This combination suggests the end of an accumulation phase and a potential exit signal for long positions.
Enter Short: The strategy looks for a crossunder of the close price below the SMA of the close price with a length of crossOverLength and a crossunder of the high price below the SMA of the high price with a length of 20. This combination suggests the start of a distribution phase and a potential selling opportunity.
Exit Short: The strategy looks for a crossover of the close price above the SMA of the close price with a length of crossOverLength or a crossover of the low price above the SMA of the low price with a length of 20. This combination suggests the end of a distribution phase and a potential exit signal for short positions.
Stop Loss:
The strategy sets a stop loss level for both long and short positions. The stop loss level is calculated based on the stopPercentage variable, which represents the percentage of the current close price. If the price reaches the stop loss level, the strategy will automatically exit the position.
Plotting Wyckoff Schematics:
The strategy plots different shapes on the chart to indicate the identified phases and patterns. Green and red labels indicate the accumulation and distribution phases, respectively. Blue triangles indicate spring patterns, and orange triangles indicate upthrust patterns.
To use this strategy, you can follow these steps:
Jim Forte — Anatomy of a Trading Range
robertbrain.com/Bull...+a+Trading+Range.pdf
Open Interest Profile [Fixed Range] - By LeviathanThis script generates an aggregated Open Interest profile for any user-selected range and provides several other features and tools, such as OI Delta Profile, Positive Delta Levels, OI Heatmap, Range Levels, OIWAP, POC and much more.
The indicator will help you find levels of interest based on where other market participants are opening and closing their positions. This provides a deeper insight into market activity and serves as a foundation for various different trading strategies (trapped traders, supply and demand, support and resistance, liquidity gaps, imbalances,liquidation levels, etc). Additionally, this indicator can be used in conjunction with other tools such as Volume Profile.
Open Interest (OI) is a key metric in derivatives markets that refers to the total number of unsettled or open contracts. A contract is a mutual agreement between two parties to buy or sell an underlying asset at a predetermined price. Each contract consists of a long side and a short side, with one party consenting to buy (long) and the other agreeing to sell (short). The party holding the long position will profit from an increase in the asset's price, while the one holding the short position will profit from the price decline. Every long position opened requires a corresponding short position by another market participant, and vice versa. Although there might be an imbalance in the number of accounts or traders holding long and short contracts, the net value of positions held on each side remains balanced at a 1:1 ratio. For instance, an Open Interest of 100 BTC implies that there are currently 100 BTC worth of longs and 100 BTC worth of shorts open in the market. There might be more traders on one side holding smaller positions, and fewer on the other side with larger positions, but the net value of positions on both sides is equivalent - 100 BTC in longs and 100 BTC in shorts (1:1). Consider a scenario where a trader decides to open a long position for 1 BTC at a price of $30k. For this long order to be executed, a counterparty must take the opposite side of the contract by placing a short order for 1 BTC at the same price of $30k. When both long and short orders are matched and executed, the Open Interest increases by 1 BTC, indicating the introduction of this new contract to the market.
The meaning of fluctuations in Open Interest:
- OI Increase - signifies new positions entering the market (both longs and shorts).
- OI Decrease - indicates positions exiting the market (both longs and shorts).
- OI Flat - represents no change in open positions due to low activity or a large number of contract transfers (contracts changing hands instead of being closed).
Typically, we monitor Open Interest in the form of its running value, either on a chart or through OI Delta histograms that depict the net change in OI for each price bar. This indicator enhances Open Interest analysis by illustrating the distribution of changes in OI on the price axis rather than the time axis (akin to Volume Profiles). While Volume Profile displays the volume that occurred at a given price level, the Open Interest Profile offers insight into where traders were opening and closing their positions.
How to use the indicator?
1. Add the script to your chart
2. A prompt will appear, asking you to select the “Start Time” (start of the range) and the “End Time” (end of the range) by clicking anywhere on your chart.
3. Within a few seconds, a profile will be generated. If you wish to alter the selected range, you can drag the "Start Time" and "End Time" markers accordingly.
4. Enjoy the script and feel free to explore all the settings.
To learn more about each input in indicator settings, please read the provided tooltips. These can be accessed by hovering over or clicking on the ( i ) symbol next to the input.
COT-index rangeA graph showing the commercials (part of COT-data) positioning in relation to its own range, X periods back. I usually choose the look-back period to equal approximately one year. This will be around 52 on a weekly chart and 250 on a daily chart.
In my opinion a high data-point for the commercials is bullish and vice versa. But instead of only looking att absolute values I now look more at how the commercials are positioned compared to the previous 12 och 6 months.
Example:
a) if COT-index range = 0.8, then the commercials are in the 80th percentile for this specific look-back period, i.e. the commercials has only been more bullish 20% of the time and more bearish 80% of the time.
b) a) if COT-index range = 0.5, then the commercials are in the 50th percentile for this specific look-back period, i.e. the commercials has been more bullish 50% of the time and more bearish 50% of the time.
c) if COT-index range = 0.2, then the commercials are in the 20th percentile for this specific look-back period, i.e. the commercials has been more bullish 80% of the time and more bearish 20% of the time.
In other words, a high reading is bullish and a low reading is bearish.
Opening Range with FibsThe indicator uses a time range and another instrument for time reference, so that it works in the time zone you care about. I have set the default to SPX500USD since it is in EST ( SPX , ES and many futures are on Chicago time and opening range gets confused). You can change the reference instrument in the settings.
You can also change the multipliers and use other values instead of 1.272 and 1.618 for Fib extensions.
TradingView has a limit as to how many objects an indicator can create so if you want to go back further for visual backtesting - use the replay tool - it will be able to draw up to the time you selected within its limits.
Let me know if you need anything else...
Happy Trading!
Average True Range PercentWhen writing the Quickfingers Luc base scanner (Marvin) script, I wanted a measure of volatility that would be comparable between charts. The traditional Average True Range (ATR) indicator calculates a discrete number providing the average true range of that chart for a specified number of periods. The ATR is not comparable across different price charts.
Average True Range Percent (ATRP) measures the true range for the period, converts it to a percentage using the average of the period's range ((high + low) / 2) and then smooths the percentage. The ATRP provides a measure of volatility that is comparable between charts showing their relative volatility.
Enjoy.
CPR - Central Pivot Range (by Alex L.)CPR or Central Pivot Range is a tool for identifying a trend, its volatility and its future targets for the price levels (in up or down directions).
What this indicator offers:
- Main purpose of this indicator is to display levels of support/resistance in a given trend as potentially good levels of entering into position or existing from a position. Entry levels are RED, resistance levels are in GREEN.
- You have the ability to view daily, weekly, monthly pivot levels, depending on what kind of trader you are.
- Unique to this indicator - you have the ability to view YEARLY pivot levels.
- Unique to this indicator - you have the "Pivots History" option to either show all history or just the recent piriod to make your chart clean of "noise".
- Unique to this indicator - you can view "future" pivot levels based on current price.
- You have the ability to view "future pivots" which can be useful as entry or exit levels for the current trend.
- You have the ability to view one, two, three or four pivor levels concurrently depending on how much information you want on your chart.
- You have the option to use "Compact View" to further reduce "noise" and make your chart event more clean.
- Open source.
Some guidelines:
- When current Central Pivot Range is higher than previous Central Pivot Range then the stock is in an uptrend and vice versa.
- Wide Central Pivot Range usually means the stock is in a "sideways trend" and volatility is low.
- Tight Central Pivot Range usually means the stock has a very low volatility and is about to explode (up or down). Switching to a higher timeframe can often give hints to what direction the stock is likely to go.
Default settings:
- Pivot Levels : "Two Pivot Levels"
- Filter/Hide Pivots: "Hide Pivot+BC+TC"
- Pivots History: "Few Months Back"
'V' Show Monthly Pivots
'V' Show Future Pivots
Calculations of pivot levels formula is according to book "Secrets of a Pivot Boss" by Franklin O. Ochoa.
Quote from the book: "The way to make money is to make it. The way to make big money is to be right at exactly the right time."
Open source.
Enjoy!
True Range Adjusted Exponential Momentum [CC]-[burgered]Original Script by CheatCountry, used with permission (chill guy):
I have made a sort of conversion of CheatCountries implementation of the True Range Adjusted Exponential Moving Average into a momentum oscillator.
Being True Range based, it the bounds vary based on the chart.
Includes a Bollinger Band for bounds that forms a trend follower based on the 0 point.
Includes CheatCountry color code signals, different color scheme. Bright colors are strong signals, ark are weak, green bull, red bear, the basics.
This oscillator can be used for divergences, trends, signal strength, confirmation, volatility readings, you name it.
Works well on smoothed/filtered signals as well.
Give CheatCountry a follow, hes one of the MVPs of Tradingview Pinescripters, constantly giving us access to novel new concepts as they are published by professionals.
[blackcat] L1 True Range Adjusted EMA (TRAdj EMA) Level: 1
Background
In Traders’ Tips in January 2023, Vitali Apirine published an article in the January 2023 issue, “True Range Adjusted Exponential Moving Average (TRAdj EMA)”.
I use pine v4 to script it.
Function
Vitali Apirine's article True Range Adjusted Exponential Moving Average (TRAdj EMA) presents how a security's True Range, which measures volatility, can be integrated into a traditional exponential moving average. The trend following indicator called True Range Adjusted Exponential Moving Average (TRAdj EMA) applied with different lengths can help define turning points and filter price movements. By comparing the indicator to an exponential moving average of the same length, the trader can gain insight into the overall trend.
Remarks
Feedbacks are appreciated.
Average True Range Refurbished💡 Objective
This script is a rebuild of the pre-existing ATR indicator, with improvements and fine-tuning.
🪄Improvements
1. Normalization option (range 0 to 100)
2. Optional calculation of the ratio between current volatility and average volatility
3. Optional smoothing
4. Show a moving average
5. Show Bollinger Bands with 3 bands
6. Change bar colors according to ATR and Bollinger Bands
📚 Definition
'The Average True Range (ATR) is a tool used in technical analysis to measure volatility. Unlike many of today's popular indicators, the ATR is not used to indicate the direction of price. Rather, it is a metric used solely to measure volatility, especially volatility caused by price gaps or limit moves.'
(TradingView)
True Range Outlier Detector (TROD)True Range Outlier Detector (TROD) shows you weather or not a candle is larger than normal. This works by taking the normalized true range and if the candle exceeds a score of 0.5 or -0.5 it triggers the outlier detection. This is great for building strategies if you want to refrain from buying larger than normal up or down ticks. The only feature is the ability to change the lookback period of the normalization. I hope you find this as useful as I do!
Enjoy!
RSI Objective LinesThe RSI is a contrarian indicator bounded between 0 and 100 where values close to the area of 30 represent an oversold condition and values close to the area of 70 represent an overbought condition.
Generally, we use the area of 70/75 and the area of 30/25 as extremes that signal a market reversal or a correction. But what if we calculate a simple way to make these levels more dynamic?
The main idea from these objective support and resistance levels is that market regime and dynamics move and as such fixed levels are unlikely to always provide value which means that we can try creating variable levels. The objective support and resistance levels are created following these steps:
* Calculate a 14-period RSI on the close price, let's call this RSI_Close.
* Calculate a 14-period RSI on the high price, let's call this RSI_High.
* Calculate a 14-period RSI on the low price, let's call this RSI_Low.
* Calculate the maximum range which is the highest value of RSI_High in the last 200 periods minus the lowest value of RSI_Low in the last 200 periods. Let's call this Max_Range
* Define the range width. By default, it is set to 5%. Let's call this Threshold.
* The objective support is calculated as the sum of the RSI_Low + (Max_Range * Threshold).
* The objective resistance is calculated as the sum of the RSI_High - (Max_Range * Threshold).
The levels are used in the same way as the oversold and overbought levels. They are more dynamic as they take into account the fluctuations of the RSI so you might see at some point in time a support at 20 and at another at 35.
Opening Range, Initial Balance, Opening PriceThis script draws Opening Range, Initial Balance and Opening Price with options to show mid levels.
By default, lines changes color depending on whether closing price is above or below the lines. Red if price is below, green if price is above.
Colors and line styles are all configurable.
Options to change label positions.
Some definitions:
Opening Range - The opening range is high and low for a given period after the market opens. This period is generally the first 30 or 60 minutes of trading
Initial Balance - WRT to TPO profile chart, the Initial Balance is the price range resulting from the market’s trade during the first two 30 minute periods of the regular trading hours session.
Why is this useful?
The first hour of the trading day is the most active and dynamic period. The price range defined by this period of trading creates some key support / resistance levels for the rest of the day. Example below:
4C Expected Move (Weekly Options)This indicator plots the Expected Move (EM) calculated from weekly options pricing, for a quick visual reference.
The EM is the amount that a stock is predicted to increase or decrease from its current price, based on the current level of implied volatility.
This range can be viewed as support and resistance, or once price gets outside of the range, institutional hedging actions can accelerate the move in that direction.
The EM range is based on the Weekly close of the prior week.
It can be useful to know what the weekly EM range is for a stock to understand the probabilities of the overall distance, direction and volatility for the week.
To use this indicator you must have access to a broker with options data (not available on Tradingview).
Look at the stock's option chain and find the weekly expected move. You will have to do your own research to find where this information is displayed depending on your broker.
See screenshot example on the chart. This is the Thinkorswim platform's option chain, and the Implied Volatility % and the calculated EM is circled in red. Use the +- number in parentheses, NOT the % value.
Input that number into the indicator on a weekly basis, ideally on the weekend sometime after the cash market close on Friday, and before the Market open at the beginning of the trading week.
The indicator must be manually updated each week.
It will automatically start over at the beginning of the week.
RF+ Replay for Heikin AshiRF+ Replay for Heikin Ashi
RF+ Replay for Heikin Ashi generates fully customisable Heikin Ashi candlesticks presented on a standard chart, enabling traders to utilise the Tradingview Replay feature with Heikin Ashi candlesticks when analysing and backtesting HA style strategies.
The features of this indicator include:
- Fully customisable Heikin Ashi Candles, including custom colour options for candle bodies, borders and wicks.
- Optional real-time, real-price close dots painted onto each candlestick.
- A optional set of 2 x Range Filters designed to indicate short term trend identification upon color change, ideal for low timeframe scalping.
- A optional set of 3 x fully customisable Moving Averages.
- An option to enable Heikin Ashi calculated data for the Range Filters and Moving Averages, so they present as they would on a Heikin Ashi non-standard chart type, without having to use an actual Heikin Ashi chart. Enabled by default.
- An optional sessions indicator, to highlight your prefered trading session for the purpose of backtesting.
- An optional watermark featuring customisable text and well as symbol and timeframe information, as seen in the screenshot of this indicator.
Instructions for use:
1) Because this indicator generates candlesticks and presents them onto your chart, you will need to hide the existing candlesticks so you do not see two sets of candles. You can do this by going into your Tradingview chart settings and making the candle bodies, borders and wicks fully transparent. You can then save this as a layout template. You can access your Chart Settings by clicking on the cog icon, or by right clicking on the chart itself and selecting 'Chart Settings' from the list.
2) Ensure you have the standard chart type selected - you do not need to select a Heikin Ashi type chart.
3) You will now be able to analyise and even backtest your Heikin Ashi style strategies including the use of the Tradingview Replay feature found at the top of the chart.
Heikin Ashi means 'average bar' in Japanese, which speaks to the fact that Heikin Ashi candles are calculated differently to standard Japanese candlesticks. The general idea of Heikin Ashi candles is to 'smooth' the appearance of price movement, by the use of averages within their calculation. It is important to understand that the Open and Close values of a Heikin Ashi candlestick do not reflect real Open and Close prices. You can use the real price dots feature to clearly see the real time and real price Close of each candle.
The formula for calculating a Heikin Ashi candlestick is as follows:
High = Maximum of High, Open, or Close (whichever is highest)
Low = Minimum of Low, Open, or Close (whichever is lowest)
Open = Open (previous bar) + Close (previous bar) /2
Close = (Open + High + Low + Close) / 4
If you found this useful, be sure to leave a like, comment and subscribe to show your support.
Until next time.
Inside Candle and mother candle range with alert++>>This script allows you the inside bar candle and the cnadle is shown in white.
The range of the mother candle is identified and tracked until it breaks.
Once the first range is over ridden then the next similar pattern will be occured and the tracking will be done for the mother candle latest occurrence.
It also has the alert mechanism where you can go and the alert for the indicator in Alerts.
5 min is the most preferrable time frame and while saving the alert Note to save the time frame of the chart. For which ever time frame is saved the Alert will be triggered for the same .
And when th inside bar is triggered it throws an alert condition. this alert condition has to be configured in your alerts and will be buzzing on the screen.
Oct 20
Release Notes: updated with Mother candle top and bottom lines of previous occurrences and tracks the current latest Inside bar mother candle
Release Notes: this script allows you the inside bar cnadle and the cnadle is shown in white. highlighter is configurable and line colors as well.
Dealar VIX Implied Range + Retracement LevelsThis Implied range Is derived by the VIX(1 sd annual +/- Implied move.)
This Indicator plots the daily Implied range, A lot of quantitative trading firms/ MM firms hedge their delta & gamma exposure around the Implied range(prop calc). I have added retracement levels as well, so you have more pivot levels.
Enjoy!
