**Key Features:**
1. **Real-time Range Monitoring:** The indicator continuously tracks the development of the trading session's price range as it unfolds, allowing traders to stay on top of price movements as they happen.
2. **Historical Range Comparison:** Gain a competitive edge by comparing the current session's range to historical averages. This valuable perspective helps traders identify potential overbought or oversold conditions and assess the significance of price movements.
3. **Visual Clarity:** The Session Range Tracker Indicator presents information in a clear and intuitive visual format, making it easy for traders to spot trends and anomalies at a glance.
4. **Customizable Parameters:** Tailor the indicator to your specific trading strategy with customizable parameters, such as the look-back period for historical range comparisons, reset the range meter at various intervals and visual style preferences.
**How It Works:**
The RangeDisparityMeter Indicator calculates the price range within the current trading session (Yellow Hash Line) and overlays it with historical range data (Gray Bar Graph). By doing so, it provides a visual representation of whether the session's price movements are within the expected norm or deviating from it. This information can be instrumental in identifying potential trading opportunities and risk management.
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Category NinjaTrader 8 Indicators and More
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