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Daily Range Histogram


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Daily Range Histogram

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  #1 (permalink)
Anchorage Alaska
 
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Does anyone know of an indicator or know how to code one for the daily range. I'm looking for one that computes the daily range of whatever futures contract I'm looking at and displays it like volume in histogram form at the bottom of the chart.

Thanks,
Jeremiah

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  #3 (permalink)
las vegas
 
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I didn't see one, so did it up. That said, most people use the average true range. Let me know if that's not what you wanted.

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Register to download File Type: dll DailyRange.dll (10.5 KB, 46 views)
Register to download File Type: cpp DailyRange.cpp (538 Bytes, 49 views)
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  #4 (permalink)
Legendary Market Wizard
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If using this on a daily chart, you can use the built-in Study Subgraphs Difference study with no coding required. Set the inputs to the high and low, and set the subgraph to bar, and you're good to go.



For things like this, I have only ever had to code maybe 2 or 3 studies, because SC has so many built-in tools to help studies talk to each other, that most anything you need is already there.

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  #5 (permalink)
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vegasfoster View Post
I didn't see one, so did it up. That said, most people use the average true range. Let me know if that's not what you wanted.

That looks like it. Thanks a bunch!!!

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  #6 (permalink)
Anchorage Alaska
 
Experience: Intermediate
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josh View Post
If using this on a daily chart, you can use the built-in Study Subgraphs Difference study with no coding required. Set the inputs to the high and low, and set the subgraph to bar, and you're good to go.



For things like this, I have only ever had to code maybe 2 or 3 studies, because SC has so many built-in tools to help studies talk to each other, that most anything you need is already there.

That would work but I use 405min for my daily bars. Thanks for the help anyway.

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  #7 (permalink)
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jphillips9 View Post
That would work but I use 405min for my daily bars. Thanks for the help anyway.

Why would that make a difference? That's what I use as well. It just subtracts the low of the high from the bar.

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  #8 (permalink)
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josh View Post
If using this on a daily chart


Being brand new to SC I understood this to mean that it would only work if I was using a daily or higher time frame chart. Sorry

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  #9 (permalink)
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jphillips9 View Post
Being brand new to SC I understood this to mean that it would only work if I was using a daily or higher time frame chart. Sorry

I see how many earlier language could be interpreted differently, sorry about that. What the study does is subtract the bar low from the high, yielding the range. So I meant that if you intended this to be for a day's range, then each bar would have to represent a day, so your 405 minute bar would be just fine.

This is in contrast to, if you were using 10 minute bars, for example, and wanted the running daily range at the bottom. In this case you could use the "Daily OHLC" set to the appropriate settings (to display historical high and low), and again use the Study Subgraph Difference to reference the Daily OHLC's high and low to get a running range for the current day regardless of the time frame of the chart.

Incidentally, in the chart settings, you can use a "1-0-0" setting to also see 405 minute bars, provided that your session time is 9:30:00 to 16:14:59. It is not different as far as I can see, but it is another option, and I like how it displays "1 day" on the region data line instead of "405 minutes."

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May 22, 2013


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