I am looking for someone to develop the following indicator.
I have attached an image of what I am looking for with some notes.
I will describe here as well.
Looking for two scenarios, one for up and one for down.
I want to find the widest range bar of the past 3 bars and I want to make sure that the prior bar and the bar that follows do not share any prices at all. The Wide Range bar is similar to a break out bar. After the bar is identified, I want a zone to be drawn that will show (in my marked up example) the high of the Wide range bar down to the high of the bar that followed it. Switch the parameters for an UP bar.
It would be great if the zone would stay visible on the chart until price closes above or below the zone. My chart attached example would have the zone stop as soon as the price of a bar closes above the high of the Wide Range bar.
One last thing, I would like the zone to show up on lower time frame charts as well.
I now draw these by hand using a 3 min, the shape then shows up on my 5 Range chart as well.
Hope that is enough info.
Last edited by butch1130; October 20th, 2014 at 10:09 AM.