Intraday regulated markets move within their circuit range above or below which the market activity is halted. These levels are protected by the MM to accumulate or distribute. These levels are mostly same for all markets i.e. 2%, 4% , 5%, 10% and 20% of previous day close, crossing which the market activity halts. So, from here the expectation of turning or breaking increases. This indicator automatically plots the levels and helps understanding the price behavior at these points. This in turn helps taking better RR trades.
Release Notes
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Updated line 28 from plus sign to minus sign
Release Notes
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Script was behaving erratically in some instruments. Updated with correction
The Script is not working properly above Version 3 and showing wrong results in some instruments. Please remove 1st line of the code where //@version=4 and try to run as version 2 for accurate results.