Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
The indicator uses the same architecture as the Relative Volume indicator, but the logic is applied to ranges:
Only to be used with minute or daily charts.
The relative ranges indicator measures the range of a fixed period bar against the average range over the same period during the preceding n days. The version which can be downloaded here allows for two different comparisons:
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 session templates which match the trading day of the instrument traded. Session 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 ranges 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.
Holidays: Holidays as selected via the indicator dialogue box are excluded from all calculations.
Daylight savings schedules: The indicator automatically adjusts to different daylight savings zones.
The histogram shows the relative ranges for the selected period of the day. For example on the chart today's highest relative range occured at 5:30 AM EST in the morning, just when the low of from Dec. 24 was taken out. Compared to the last 40 business days, the cumulated average of the relative ranges runs at 88%, whereas it runs at 87% when compared to a normal Monday. The low volatility is expected between Christmas and New Year's Eve.
Average range bars - between 80% and 120% of normal ranges - are shown as white bars. If the relative range exceeds 120% the histogram color is green, below 80% it is red. The colors can be selected by the user.
Hello,
I hope I'm asking my question in the right thread and I'm sorry if I didn't.
Is there an indicator that plots some vertical line, a zone or a signal at a specific time of the day but works with Renko Hybrid bars?
From what I know is Renko hybrid doesn't configure time in it's calculations.
I use Renko hybrid charts and I would like to stay away from initiating a trade at a specific time during the day.
If an indicator can plot some grey area or vertical line during that time so I take better precautions before I jump into a trade.
Any suggestions?
Hey guys, I thought many of you would enjoy and benefit from this thread. My intention is to have each poster reply and describe in as much detail as possible an indicator they want created for NinjaTrader.
hi, i am not looking to create them based on a fixed number of bars but for them to be created based on a fractal or swing high and low , they will be more dynamic - if we use the price action swing and use a 7 then we would get triangles based on the swing high/low of 7 , we can change it to 5 or 10 but it will plot based on HH, HL ,etc