Sierra average daily range study
|October 18th, 2016, 08:55 AM||#21 (permalink)|
Phoenix AZ USA
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To get an average weekly range, try using the Daily OHLC study instead. One of its subgraphs is the HL Avg. Then apply a SMA based on it to get the average range.
-Add a Weekly chart to your chartbook and apply the Daily OHLC study.
-Add the Moving Average - Simple study to the Weekly chart and set the 'Based On' to the Daily OHLC study, and the 'Input Data' to its HL Avg.
-On your Intraday chart, add the Text Display For Study From Chart study, and reference the SMA on the Weekly chart.
-You can minimize the weekly chart.
Note: Despite its name, the Daily OHLC study on an Historical chart looks at the bars as if they are daily bars. On an Intraday chart, it looks at all bars that make up each day. This means you can also use it, and a SMA based on its HL Avg, to get the ADR of only RTH bars by applying this concept to an RTH chart.
Last edited by tomgilb; October 18th, 2016 at 09:12 AM.
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