MOYAR – Month Of Year Average Range

v10.3
MOYAR – Month Of Year Average Range

This indicator is a further adaptation of my DOWAR – Day Of Week Average Range Bands and HODAR – Hour Of Day Average Range Bands indicators that can be found here:

https://www.prorealcode.com/prorealtime-indicators/dowar-day-of-week-average-range-bands/

https://www.prorealcode.com/prorealtime-indicators/hodar-hour-of-day-average-range-bands/

This version calculates an all time average range for each month of the year and then applies it to the chart as bands or a background candle or both. So for example on January candles the bands (or background candle) will represent the all time average range for all recorded months of January up to that date.

The bands/candles can be made wider or narrower by adjusting the ‘Multiple’ setting.

The centre of the bands/candles can be based on any custom close such as median price, close, typical price, total price etc.

By adjusting the offset you can decide which months custom close the bands/candles will be centred on. Zero = this month’s, 1 = the previous month’s etc.

You can set the start date from when the indicator should start calculating the monthly averages. Set StartDate to zero if you want to use all available history.

Apply the indicator only to the monthly price chart.

I recommend that you download the itf file and import it to get full functionality rather than cut and pasting the code.

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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