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Berlin, Europe
Market Wizard
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,103
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If you want to take the high and low of a specific time period within a day, you first want to make sure that the last candle within this period is correctly cut off at the end. To achieve this you would create a session template via the session manager which divides the trading session into three subsessions
- session prior to specific time period
- session for specific time period
- session after specific time period
The CurrentDayOHLV22 indicator below, if set to Daysession Pivots should display open high and low for the second session.
If you want to follow a simpler approach, you could achieve the same with a time-based approach, but with the risk that some of the candles reach out over the border of your specific period giving you a false high and low.
I have an indicator that plots the initial balance (1st hour of trading) and uses the second approach, but it will only give correct values for 1,2,3,4,5,6,10,15,20 and 30 min chats (all divisors of 60 are possible).
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