PINE LIBRARY
Updated ItsABox
The market trades in range 70% of the time. This script is designed to define some of the many ranges the market often trades in.
The ranges included:
Previous days range of value - The range where 70% of market participants conducted business from the prior session. When price trades back into this range. The market tends to (but not always) auction through that range rather easily. It can also act as critical resistance or support intraday for the market to get the continuation it seeks.
Previous day's range - The high and low from the prior session. This range is important for traders as the market often can't seek continuation until we confirm above or below the prior days high and low.
Average Daily Range - The average range the security has traded in over a multi day rolling period. The market often respects its average daily range until given a reason to breakout to the upside or the downside of this range.
Average Daily Expansion Range - a percentage based extension of our average daily range for the rare instances in which the market does trend beyond its average daily high and low. Though not definitive resistance or support. This range is designed to help traders understand how far price can continue to trend beyond its normal range on a day to day basis.
The ranges included:
Previous days range of value - The range where 70% of market participants conducted business from the prior session. When price trades back into this range. The market tends to (but not always) auction through that range rather easily. It can also act as critical resistance or support intraday for the market to get the continuation it seeks.
Previous day's range - The high and low from the prior session. This range is important for traders as the market often can't seek continuation until we confirm above or below the prior days high and low.
Average Daily Range - The average range the security has traded in over a multi day rolling period. The market often respects its average daily range until given a reason to breakout to the upside or the downside of this range.
Average Daily Expansion Range - a percentage based extension of our average daily range for the rare instances in which the market does trend beyond its average daily high and low. Though not definitive resistance or support. This range is designed to help traders understand how far price can continue to trend beyond its normal range on a day to day basis.
Release Notes
v2Release Notes
v3Release Notes
v4
ATMTRADES
Pine library
In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in a publication is governed by House rules.
ATMTRADES
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.