Quote:
Originally Posted by Far from average
Can anybody here create an indicator that will identify a day with the narrowest range out of the last 4 or 7 days? This is used by a lot of pro traders and hedge fund guys who like to trade breakouts of these days' ranges.
If you do it I will be happy to share what I've learned about them so far, but I need more data to look at to confirm what I've seen so far.
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I think will do what you want i originally made this indicator to show inside outside candles however if you set it to Daily (1440) it will show the last 7 Daily Candles and gives the number of pips each has moved so it is pretty easy to see which day has the most narrow range.
Candles.gif
# Hi Low - Open Close CANDLES.ex4