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Relative Ranges (amaRelativeRanges)
Version 1.1 July 21, 2017
Only to be used with minute or daily charts.
The
Relative Ranges
indicator measures the range of a minute bar or a daily bar against the average range for the same time of the day over the preceding n days. The indicator comes with two different options to calculate the relative range:
All_Days:
Today's ranges are compared to the average ranges of the N preceding business days. The default value is N = 40. With the setting "All_Days" the indicator requires the use of proper trading hours templates which match the trading day of the instrument traded. Trading hours templates that cut the week into arbitrary sessions - such as the session template 24/7 - cannot be handled by the indicator and will trigger an error message.
Day_Of_Week:
Today's ranges are compared to the average range calculated for the same day of the week over the N preceeding weeks. The default value is N = 8. With the setting "Day_Of_Week", all session templates can be handled.
Relative Ranges:
The relative ranges are shown as a percentage of the average volume calculated over the reference period.
Cumulated ratio:
Compares the cumulated ranges of the current day to the average ranges of the selected reference period.
Holidays:
Holidays as selected via the indicator dialogue box may be excluded from all calculations.
Default settings:
Relative range bars between 80% and 120% of the normal range are shown as white bars. Higher relative range bars are shown as blue bars, lower relative range bars are shown as red bars.
Category
NinjaTrader 8 Indicators and More
Details:
Relative Ranges (amaRelativeRanges)
Category:
NinjaTrader 8 Indicators and More
September 4th, 2017
Size: 12.43 KB
Downloaded: 697 times
Keywords:
cumulated
range
relativeranges
1893
Fat Tails
Comments/ratings
tradingon
December 23rd, 2017 09:53 PM
Thanks Harry,
Very nice and hoping you take it further
TraderYoda
December 29th, 2017 06:55 AM
Thank you very much - Outstanding work as usual!
kiro
March 4th, 2018 11:40 PM
Thank you Harry!!
dectrader0
May 25th, 2018 09:18 PM
Thanks!
optionsnh
June 9th, 2018 02:08 PM
Thank you very interesting.
romus
November 20th, 2019 06:50 PM
Fantastic tool!
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