Range by Time
Trading is all about understanding Market Structure and how it develops over the day. Whether you are a momentum trader or a mean reversion trader, you cannot underestimate the role of Range statistics.
This indicator is designed keeping that in mind the needs of a discretionary trader with a quantitative bent.
Displays per bar Day High- Day Low range.
Marks Range Extensions based on direction.
Calculates Mean Ranges and Standard Deviations based on a predified look back period, for Gaps, and 3 user-defined time windows to display as a matrix on the Price pane.
Calculates # of Trend Days based on user-defined parameters within the look-back period.
Line markers for probable range levels for each time segment.
Sound alerts for Range Extensions, Extension of Previous day’s range and look-back period range
Choice of Mean vs. Median Values for look-back period data.
Special Feature for Back-testing - Choose Dates ranges for which you want to see the mean/median ranges.