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I am not quite sure which indicator you are referring to.
I had originally coded volatility and noise bands as separate indicators, but then included them with the daily, weekly and monthly OHL indicators which can be downloaded via the Session Pivots package for NinjaTrader 7. This was to simplify maintenance. These are my only indicators that calculate the ADR. The chart below shows ADR projections based on the ADR and noise bands.
If you talk about an indicator with expanding bands there is the SessionVWAP. The volatility bands are usually derived from the standard deviation, but they can also be calculated as a multiple of the current day's range - see chart below with option quarter range selected.
looking for a opening break out range indicator and strategy. As far as I read, all the indicators mentioned and published here are designed for NT7, right?
I am looking for an indicator that will allow me to set a pre-defined time range eg. 11:00 to 13:00 o'clock (11am to 01pm in american format) and which in result will plot in a rectangular/box/shape or similar the highs and lows that were reached during this range. That area within the given time-range should be filled with a pre-defined color and transparency to have a good visability of the opening-range. The evaluated high/low should extend as horizontal lines until session end of day. The delta between high and low horizontal lines should be calculated and also displayed as a range value. Then additionally plot a horizontal line under and above that open-range with a pre-defined factor/multiplier. Let's say the high was 3500 and the low was 3450, so the delta is 50. When I enter factor/multiplier=1.0 the upper horizontal line should be plotted at 3550 and the lower line at 3400. When I enter factor=0.7 (50*0.7=35) the upper line should be plotted at 3535 and the lower line at 3415. Would be nice to have the ability to plot a second top and bottom horizontal line, let's say plot also multi=2
I'd like to the horizontal lines also for a strategy so I can define to enter short or long position when actual price reaches the breakout-level and then define the stoploss and take-profit at the multi=1.0 line.
Sorry for my bad english, hope you understand what I mean. Any help really appreciated. I searched a lot but didn't find anything that really helped me getting along.