This script will give 1 important level for the day. It has moving average of vwap as well as ema. User can define the period. An important input for the indicator is previous days range. There is a parameter of divisor in which user can define in how many parts he/she wants to divide the previous day. Recommended values are just 3 or 4 not more than that.
Release Notes
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There was an error in one of the labels. Apologies.
Release Notes
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Added Few Extra conditions to for big gap days. Let me know the feedback in comments.
I think it is good indicater for me,thankyou.
Can you please explain the settings R,S,H,L,V and plot.