This indicator shows an easy way to determine if the stock, index or ETF ended within a configurable intraday range.
This solution is ideal for those who study and like Iron Condors or Iron Butterflies strategies.
Results: If the square is red, it means that the selected deviation limits have been exceeded within the chosen times. If the square is green, the price stayed within the pre-set limits. A yellow circle marks the moment when the price leaves the range, either by the upper band or by the lower band. In the last bar a label with the test results will be displayed.
Settings: In the configuration there are three fields: 1. Deviation [%]: is the range in percentage that the price can move up or down from the start time to the end time. 2. Begin Time: is the time (in 24h or military format) where the process begins. 3. End Time: is the time (in 24h or military format) where the process ends. Example: * for the time 11:00 am, you must enter "1100" * for the time 2:45pm, you must enter "1445"
Important: The selected timeframe must be less than 1 hour and Extended Trading Hours in the lower left corner), otherwise the indicator may not show results. Later I will make an improvement to solve these inconveniences.
Informacje o Wersji
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Update 2/8/2023 Adding: * Dashboard in table * Date and time in each box range * Range changes in each box range
Hello sir, Can I use this for Nifty? And how to use this.plz help
rodovaldoavila
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Could You add a way to change the max days from 40 to al least 100? it would be great. Thanks for the indicator.
FunwithNumbers
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Great Indicator. Thank you.... Is it possible to add the percentage of days the price goes out of range but still ends within (yellow dot days)?
seba34e
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@FunwithNumbers, I think so... I should be count how many times appear the yelllow circle in a day... if they are even, it means that the price went out and went in... but if they are odd, it's because I never come back... let me think about it and update it...
And how to use this.plz help