TridentBull

MCX_Commodity

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MCX_Commodity
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//@version=2

study("MCX_Commodity",overlay=false)

USDINR_15 = security("FX_IDC:USDINR", "1", close)
MCXCommodity=(USDINR_15*close)+15

plot(MCXCommodity,style=linebr,color=green,linewidth=2)

Highhier  = security(tickerid,"240", high[1])
Lowhier   = security(tickerid,"240", low[1])
Closehier = security(tickerid,"240", close[1])
Opentoday = security(tickerid,"240", open[0])

VaHD1=Highhier -(Highhier -Lowhier )*0.15
VaLD1=Lowhier+(Highhier -Lowhier )*0.15
PoCD1=VaHD1-(VaHD1-VaLD1)*0.618
MCXCommodity_Base=(USDINR_15*PoCD1)+15

plot(MCXCommodity_Base,style=linebr,color=red,linewidth=2)

This looks interesting. Could you explain what it does?
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