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Middle of the day and middle of the range (Al Brooks) for MultiCharts - v1
This is a
basic
indicator prepared while reading Al Brooks' first book.
Al Brooks advises to be very cautious when trading the ES in the middle of the day and in the middle of the range of the day, especially in case of Barb Wire.
This indicator simply identifies the zone which are "in the middle of the day and in the middle of the range of the day".
It is supposed to be used for
past data
, just in order to "have a look".
"
Middle of the day
" is defined by the user through the beginning time and the end time of the period (default values: 1130 and 1330)
"
Middle of the range of the day
" is defined by the height of this mid-range compared to the current Hi-Lo of the day. The default value is 0.33 (33%). It means that the "middle of the range of the day" is the range which is at the middle of the current Hi-Lo of the day and the height of which is 33% of the current Hi-Lo of the day.
Discussion thread:
https://nexusfi.com/elite-circle/17426-multicharts-indicator-middle-day-middle-range-historical-al-brooks.html
Category
The Elite Circle
Details:
Middle of the day and middle of the range (Al Brooks) for MultiCharts - v1
Category:
The Elite Circle
February 5th, 2012
Size: 8.09 KB
Downloaded: 164 times
Keywords:
al
brooks
day
range
middle
1109
Nicolas11
View Download Details
July 16th, 2014 01:12 PM
spiderbyte87
good stuff, thanks!
Category
The Elite Circle
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