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Relative Ranges (amaRelativeRanges) 5 *
Version 1.1 July 21, 2017

Only to be used with minute or daily charts.

The Relative Ranges indicator measures the range of a minute bar or a daily bar against the average range for the same time of the day over the preceding n days. The indicator comes with two different options to calculate the relative range:

All_Days: Today's ranges are compared to the average ranges of the N preceding business days. The default value is N = 40. With the setting "All_Days" the indicator requires the use of proper trading hours templates which match the trading day of the instrument traded. Trading hours templates that cut the week into arbitrary sessions - such as the session template 24/7 - cannot be handled by the indicator and will trigger an error message.

Day_Of_Week: Today's ranges are compared to the average range calculated for the same day of the week over the N preceeding weeks. The default value is N = 8. With the setting "Day_Of_Week", all session templates can be handled.

Relative Ranges: The relative ranges are shown as a percentage of the average volume calculated over the reference period.

Cumulated ratio: Compares the cumulated ranges of the current day to the average ranges of the selected reference period.

Holidays: Holidays as selected via the indicator dialogue box may be excluded from all calculations.

Default settings: Relative range bars between 80% and 120% of the normal range are shown as white bars. Higher relative range bars are shown as blue bars, lower relative range bars are shown as red bars.


Category NinjaTrader 8 Indicators and More 
 
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Details: Relative Ranges (amaRelativeRanges)
Category: NinjaTrader 8 Indicators and More 


September 4th, 2017
Size: 12.43 KB
Downloaded: 591 times

Keywords: cumulated range relativeranges
Comments/ratings
5 * tradingon December 23rd, 2017 09:53 PM
Thanks Harry,

Very nice and hoping you take it further
5 * TraderYoda December 29th, 2017 06:55 AM
Thank you very much - Outstanding work as usual!
5 * kiro March 4th, 2018 11:40 PM
Thank you Harry!!
5 * dectrader0 May 25th, 2018 09:18 PM
Thanks!
4 * optionsnh June 9th, 2018 02:08 PM
Thank you very interesting.
5 * romus November 20th, 2019 06:50 PM
Fantastic tool!

 
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