The indicator works on robust levels(Range), used by professionals for breakout trades.
(Range)Breakout levels are based on a time-based ranges-(8 Preset Ranges).
Custom Range can be set based on market sessions or time-based ranges.
Once the range is broken, indicator generates buy and sell arrows on the charts.
The indicator dashboard displays multiple targets and stop-loss for the trade.
Can be used for intraday or position trades.
Helps Trader analysis suitable range of market break.
Has 3 Range levels that can be used- TIGHT RANGE, MEDIUM RANGE, AND BROAD RANGE.
The Ranges can be traded as any other break out strategy.
- NumberOfDays = 50-Set the days to show the historical ranges
- Range = Custom; - Set for selecting variable time ranges Or Chose from 8 preset Ranges
- periodA_begin = "01:00"; - London open
- periodA_end = "01:30"; - First thirty minutes after open
RANGE LEVEL SETTINGS
- Level = Level1; -Select from 3 levels of ranges : aggressive/medium/safe
- ShowAllLevels = true; - Display all or only 1
- SignalType = CandleClose; -Signal upon candle close above/below the level
- nextDayA = 0; - Set to zero if period A_begin and period B_end are on the same day.
- periodB_end = "24:00"; - Set range end time
TARGET AND STOP LOSS DISPLAY SETTINGS
- TP_LineColor = Blue; - Tp line color
- SL_LineColor = Red; - Sl line color
- ArrowSize = 3; - Set the signal arrow size
- nextDayB = 1; - Set to zero if "period A_begin "and "period B_end "are on the same day.
RANGE AREA DISPLAY SETTINGS
- rectAB_color = PaleGreen;
- rectAB_background = true; - true - filled solid; false - outline
- rectA_color = Red;
- rectA_background = false; - true - filled solid; false - outline
- rectB1_color = Green;
- rectB1_background = false; - true - filled solid; false - outline
- rectB1_band = 28; - Box Break-Out Band for the Period B rectangle
- rectsB2_color = Green;
- rectsB2_background = false; - true - filled solid, false - outline
- rectsB2_band = 56; - Box Break-Our Band for the two upper and lower rectangles
- HistoryRanges =false; -Show display of previous days ranges
DISPLAY SETTINGS FOR TARGETS , STOP LOSS and DASHBOARD
- AlertsOn =true;
- DashboardOn = true; -Display the dashboard
- LinesOnCharts = true; - Display the targets and stop loss
- LinesLength = 50; - Set the length of the targets and stop loss