italopardave

Intraday Caja de Alfredo

This indicator is not a strategy by itself, and only works intraday.

A box will start to draw an hour after the market open and continue being drawn for the next two hours. This is being done due to the theory of it being the time where small investors and institutions are moving the price with less volatility than the first hour.

Once the Box has been closed support and resistance of the day will be drawn. Price should try remaining between t his two.

There are alerts for the breakthrough of the box to either upside or downside. This should be followed by a corresponding direction candle pattern, in order to expect a higher/lower break.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

I like this a lot. The lunchtime orb
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