I'm pretty sure I downloaded this indicator from futures.io (formerly BMT), but after nearly two hours scouring the site (?!), I'm unable to locate it. In any event, wondering if anyone here is familiar with this indicator, could tell me a little bit about it.
Am I correct in my understanding that it displays the average of tow moving averages of the high and low of the daily range? If so, I'm a little confused by the intraday volatility of the lines plotted. Wouldn't they be constant (eg, steady state) for each session?
Thanks, in advance, for any guidance anyone can offer.
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