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Middle of the day and middle of the range (Al Brooks) for MultiCharts - v1

This is a basic indicator prepared while reading Al Brooks' first book.

Al Brooks advises to be very cautious when trading the ES in the middle of the day and in the middle of the range of the day, especially in case of Barb Wire.

This indicator simply identifies the zone which are "in the middle of the day and in the middle of the range of the day". It is supposed to be used for past data, just in order to "have a look".

"Middle of the day" is defined by the user through the beginning time and the end time of the period (default values: 1130 and 1330)

"Middle of the range of the day" is defined by the height of this mid-range compared to the current Hi-Lo of the day. The default value is 0.33 (33%). It means that the "middle of the range of the day" is the range which is at the middle of the current Hi-Lo of the day and the height of which is 33% of the current Hi-Lo of the day.

Discussion thread: https://nexusfi.com/elite-circle/17426-multicharts-indicator-middle-day-middle-range-historical-al-brooks.html

Category The Elite Circle

Details: Middle of the day and middle of the range (Al Brooks) for MultiCharts - v1
Category: The Elite Circle

February 5th, 2012
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Keywords: al brooks day range middle