IV BASED TRADING RANGES FOR OPTION TRADERS by FXwithSid

31 Ara 2024

This indicator, "IV Based Trading Ranges", is designed to assist traders by visualizing daily, weekly, monthly and yearly trading ranges based on IV.

1. The indicator calculates support and resistance levels using the IV and allows users to include their custom IV and closing prices for extended range calculations.
   
   
2. Draws resistance and support lines dynamically, extending across specified bars depending on the trading instrument (NSE or MCX).
   
   
3. Automatically updates levels and labels at the start of a new trading day, ensuring relevance to the latest market data.
   
   
4. Supports multiple chart timeframes with specific line extensions for accurate representation.
   
   I have been using this indicator for the past two years, and after extensive live testing, I am excited to share it with fellow traders. It’s designed to save time and help you plan price action effectively, delivering remarkable results.
   
   Disclaimer: Trading involves substantial risk and is not suitable for every trader. The indicator is provided for educational purposes and does not constitute financial advice. Always do your own research before making any trading decisions.