Uses VDAX (dax volatility index) to calculate the expected daily range of the Dax.
formula: daytrading.about.com...a/VDAXDailyRange.htm
Input the dax previous days close
and
This value: www.investing.com/indices/vdax
and
The indicator will do the rest
formula: daytrading.about.com...a/VDAXDailyRange.htm
Input the dax previous days close
and
This value: www.investing.com/indices/vdax
and
The indicator will do the rest
//@version=2 study("VDAX Expected High/Low", overlay=true) VDAX= input(000.0000,title="VDAX") Timeframe=input("D") pdc = security(tickerid, Timeframe, close[1]) PREVDAYCLOSE= input(000.0000, title="Previous (Timeframe) Close") // sy = input(false, title="Show Previous (Timeframe) Close?") plot(sy and pdc ? pdc : na, title="Previous Days Close", style=cross, linewidth=1, color=teal) PERCENTDAILYRANGE= VDAX/20 POINTSAILYRANGE= (PREVDAYCLOSE/100)*PERCENTDAILYRANGE EXPECTEDHIGH=PREVDAYCLOSE+POINTSAILYRANGE EXPECTEDLOW= PREVDAYCLOSE-POINTSAILYRANGE plot(EXPECTEDHIGH, color=red,style=linebr,title="Expected High") plot(EXPECTEDLOW, color=green,style=linebr,title="Expected Low") plot(avg(EXPECTEDHIGH,PREVDAYCLOSE), color=black,style=circles,title="Average Expected High") plot(avg(EXPECTEDLOW,PREVDAYCLOSE), color=black,style=circles,title="Average Expected Low") plot(PERCENTDAILYRANGE, color=red,style=linebr,title="% (hide this if it messes up the auto scale)") plot(POINTSAILYRANGE, color=red,style=linebr,title="P DR (hide this if it messes up the auto scale)")