Indicator for extremes near open

RickW00716 · #1 (**permalink**) 06-24-2008, 01:50 AM

I am looking for an indicator that will plot the (open - low)if the low is closest to the open....and the (high-open) if the high is closest to the open.

I would also like to be able to plot a 10 period average of each of these..example: a 10 SMA of open -low...only open minus the low when the open is closest to the low...vice versa for the high - open.

Also is there a way I can plot the weekly open on smaller timeframe charts?

Thank you!

Elliott Wave · #2 (**permalink**) 06-24-2008, 02:16 AM

While not exactly what you are looking for, there is an indicator called the 'Directional Day Filter' which is quite useful for determining the trend for the day based on the first hour.

I could provide two different versions coded in C# (NinjaScript) and here is the EasyLanguage code if it helps:

Quote:

Inputs: PlotTime(5),Delay(60) ;

Vars: NuHi(c), NuLo(c), Med(0);

If d<>d[1] then begin
NuHi = H;
NuLo = L;
end;

If H>NuHi then NuHi = H;
If L<NuLo then NuLo = L;

If T = CalcTime(Sess1StartTime,PlotTime) then Med = (NuHi+NuLo)/2;

If Med > 0 then plot1(Med,"DDFLine");

If t = CalcTime(Sess1StartTime,Delay) and nulo>0 then begin
Plot2(NuHi,"hi");
Plot3(NuLo,"lo");
Plot4(C,"C");
If checkalert then alert = true;
end;

RickW00716 · #3 (**permalink**) 06-24-2008, 02:34 AM

Quote:

Originally Posted by Elliott Wave

While not exactly what you are looking for, there is an indicator called the 'Directional Day Filter' which is quite useful for determining the trend for the day based on the first hour.

I could provide two different versions coded in C# (NinjaScript) and here is the EasyLanguage code if it helps:

Thank you...this looks interesting...Is this indicator available for MT4?
I am not a programmer(very computer illiterate!)

Perky · #4 (**permalink**) 06-24-2008, 03:25 AM

i use this to guage my uk open trades for direction
it colors the high/low of the asian session
pretty good really

Perky · #5 (**permalink**) 06-24-2008, 03:26 AM

loooking for a way of getting the US open
im thinking
its either a continuance of the uk session or reversal
just a fresh idea

ServerUang · #6 (**permalink**) 06-24-2008, 04:45 AM

Quote:

Originally Posted by Perky
i use this to guage my uk open trades for direction
it colors the high/low of the asian session
pretty good really

Thank you for sharing your $TrillionDollarDaysHML indicator Sir,
May I ask question ?
The using of this indi, is it the same with Session indicator Sir ?

BestRegards,
ServerUang

Perky · #7 (**permalink**) 06-24-2008, 12:04 PM

no the session indi just tells you when the sessions begin and start - from what I understand

this indicator shows the high and low from the asian session
and you can judge your trades from there
for thr uk session