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BT OPENING RANGE INDICATOR - without vertical lines at session changes
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BT OPENING RANGE INDICATOR - without vertical lines at session changes

  #21 (permalink)
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  #22 (permalink)
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Big Mike View Post
Mike

Is that post off-topic, or is the puppy just testing its opening range?

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  #23 (permalink)
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Fat Tails View Post
Is that post off-topic, or is the puppy just testing its opening range?

It was a reply to your Darwin - NinjaTrader analysis...

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  #24 (permalink)
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Fat Tails View Post
Could you show me a chart first and explain what the indicator is doing? Makes it faster for me to understand it.

I do not have a chart to show but its only two horizontal lines.
Basically the indicator looks at a) the difference between the HH less the open and b) the open less the LL for the RTH for a certain day. Then picks the lower of a or b for that day (Z).
Then add the Z's of the past x days and divide by x (averZ).
The next day at the open it will draw two lines 1) at the open + averZ, and 2) the open - averZ. The lines cover only RTH.

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  #25 (permalink)
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interesting at first glance, nj6.5

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  #26 (permalink)
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meyer99 View Post
I do not have a chart to show but its only two horizontal lines.
Basically the indicator looks at a) the difference between the HH less the open and b) the open less the LL for the RTH for a certain day. Then picks the lower of a or b for that day (Z).
Then add the Z's of the past x days and divide by x (averZ).
The next day at the open it will draw two lines 1) at the open + averZ, and 2) the open - averZ. The lines cover only RTH.


That would be sort of a minimum price target for the day. You could display this in a similar fashion as the SessionVolatility Bands. Calculate averageZ for two periods, for example 3 and 10 days. You can then plot a band above and below the open for the RTH session.

The SessionVolatilityBands indicator already has an ETH and RTH option, uses the session logic and calculates averages of the daily range, so it should not be too diiffcult to modify the calculation

- take the minimum Min(high - open, open - low) instead of the daily range, then apply the average calculatation
- add/subtract this to the open value instead adding to low and subtracting from high

Does this make sense for you?

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  #27 (permalink)
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Fat Tails View Post
That would be sort of a minimum price target for the day. You could display this in a similar fashion as the SessionVolatility Bands. Calculate averageZ for two periods, for example 3 and 10 days. You can then plot a band above and below the open for the RTH session.

The SessionVolatilityBands indicator already has an ETH and RTH option, uses the session logic and calculates averages of the daily range, so it should not be too diiffcult to modify the calculation

- take the minimum Min(high - open, open - low) instead of the daily range, then apply the average calculatation
- add/subtract this to the open value instead adding to low and subtracting from high

Does this make sense for you?

Yes it makes sense. Will the user be able to set the number of days for the average calculations or it will be hard coded? I need the number to be a variable to be input by user. Can this be done?
Thank you again.

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meyer99 View Post
Yes it makes sense. Will the user be able to set the number of days for the average calculations or it will be hard coded? I need the number to be a variable to be input by user. Can this be done?
Thank you again.

As with the SessionVolatilityBands you would be allowed to set two variables: the longer and the shorter period for the average.

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  #29 (permalink)
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Opening Range V30

FT,


Am I correct that V30 Opening Range indicator only colours the opening session high and low bands until the session opening time is complete and not the range between the bands.

Thanks in advance,

Trafford

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  #30 (permalink)
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Trafford View Post
FT,


Am I correct that V30 Opening Range indicator only colours the opening session high and low bands until the session opening time is complete and not the range between the bands.

Thanks in advance,

Trafford

The indicator colors the high, low and midline of the developping opening range in gray until it is complete. Once the opening period is completed it will switch to Goldenrod. The colors can be changed by the user. For example you can set the incomplete opening range to transparent. In this case the opening range will only be displayed after completion.

The indicator does not fill the range between the bands with a colour.

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BT OPENING RANGE INDICATOR - without vertical lines at session changes-incomplete.jpg   BT OPENING RANGE INDICATOR - without vertical lines at session changes-complete.jpg  
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