This indicator was needed by Roman.
The upper line shows the highest of the first hour plus the average for the past n days of the difference between the first-hour-highest and the daily open.
the lower line shows the lowest of the first hour minus the average for the past n days of the difference between the first-hour-lowest and the daily open.
I hope someone else might use this code.
Blue skies
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//computation timeframe in use and intraday number of bars - intrab if intradaybarindex=0 then time1=opentime endif if intradaybarindex=1 then time2=opentime endif deltatime=(time2-time1)/100 intrab=round(522/deltatime) //computation max and min in the first hour - super e infer if (time>=090000) and (time<=100000) then super=dopen(0) infer=dopen(0) if high>super then super=high endif if low<infer then infer=low endif else super=super infer=infer endif //computation average (super-initialopen) and (initialopen-infer) period=20 if time=100000 then sommadeltasuper=0 sommadeltainfer=0 for i=0 to (period) do j=1+round(i*intrab) sommadeltasuper=sommadeltasuper+abs(super[j]-dopen(i)) sommadeltainfer=sommadeltainfer+abs(dopen(i)-infer[j]) next deltasuper=sommadeltasuper/period deltainfer=sommadeltainfer/period endif if time>100000 then up=super+deltasuper down=infer-deltainfer else up=up down=down endif return up,down |
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Hi, I quite like this idea. I just wanted to suggest some code alterations:
// --------------------------------
// once period = 20
// once gmtOffset = 000000 // 010000 for EU just an idea
once startTime = 080000 //+gmtOffset ??
// --------------------------------
once endTime = startTime+010000
// to avoid nasty spike on the graph
once up = undefined
once down = undefined
once super = undefined
once infer = undefined
//computation timeframe in use and intraday number of bars - intrab
if intradayBarIndex = 0 then
time1=opentime
elsif intradayBarIndex = 1 then
time2=opentime
// only needs to be done once a day no?
deltatime=(time2-time1)/100
intrab=round(522/deltatime)
endif
//deltatime=(time2-time1)/100
//intrab=round(522/deltatime)
//computation max and min in the first hour - super e infer
if (time>=startTime) and (time<=endTime) then
super = dopen(0)
infer = dopen(0)
//if high>super then
//super=high
//endif
super = max(high, super)
//if low<infer then
//infer=low
//endif
infer = min(low, infer)
endif
//else
//super = super // ??? why?
//infer = infer // ??? why?
//endif
//computation average (super-initialopen) and (initialopen-infer)
if (time = endTime) then
sommadeltasuper=0
sommadeltainfer=0
for i=0 to (period) do
j=1+round(i*intrab)
sommadeltasuper = sommadeltasuper+abs(super[j]-dopen(i))
sommadeltainfer = sommadeltainfer+abs(dopen(i)-infer[j])
next
deltasuper = sommadeltasuper/period
deltainfer = sommadeltainfer/period
//endif
//if time>endTime then
elsif time>endTime then
up=super+deltasuper
down=infer-deltainfer
else
up=up
down=down
endif
return up,down
Maz,
excellent corrections, thanks a lot
Gabri
Thank you, what is the rational? breakout outside the rectangle?
Regards
Francesco
Roman made the strategy, I made the code and Maze made it bulltproof. You can use it I believe in many ways. A London breakout might be one of them for example.
Francesco78
here is the strategy:
https://www.prorealcode.com/topic/highlowopen-prices-for-specific-timeframes/
Thank you!