Sorry for not explaining my query.
For each day based on some calculations I expect the price to reach a bottom or a top (that is what I meant by range - for example, today I expected cable to bottom out in the range of 2.0040 to 2.0080 initially and then reach a high in the range of 2.0120 to 2.0140).
To have a better entry price I want to use RSI (70 for selling and 30 for buying) as a filter to see whether the price is at a low for buying or at a high for selling.
This price range to buy (2.0040 to 2.0080) that I expected cable to be would be between 6 am and 12 pm (GMT). Hence, if that price range was not reached in this time I want the order to be cancelled.
I hope I have made myself a bit more clearer.
Thanks for your patience.
Kumar