OPEN-SOURCE SCRIPT
Güncellendi

Average Range Targets

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This super simple script helps spotting possible turnarounds and targets on intraday level.

The average daily range is calculated over a period of 20 days, which is approximately a trading month.
The black lines indicate the upper and lower range targets, moving closer with each new intrady high and low.

As you might recognize, in most cases the price is about to turn when one range target is hit.

The red and green lines are showing previous day's high and low as referneces.

Enjoy!

Warm regards,
Constantine Trading
Sürüm Notları
Slimmed the script and sped up calculations, fixed plotting errors.

1st:
I've added a midrange level. Usually, if price is below midrange, action is suppoes to be short;
if price is above otherwise.

2nd:
Most of the time price bounces once from range target level. If it reaches a second time, chances of breaking through are high.

HINT!
Don't rely solely on this script always watch out for a proper price action setup! Consider trend direction!

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.