DAX Expected High/Low

Uses VDAX ( dax             volatility index) to calculate the expected daily range of the Dax             .

Input the dax             previous days close
This value:
The indicator will do the rest
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study("VDAX Expected High/Low", overlay=true)
VDAX= input(000.0000,title="VDAX")
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)


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)")
What kind of platform do you use for this script? Because I get errors when I paste the script in it.

Thanks in advance.
beursadviezen beursadviezen
I use MT4-platform
Nice script. Does it work with DAX only? I'd like to change exchange and stock.
TheYangGuizi PRO MikhailOzone
This formula might work for both dax and ES, other than that I don't know. Found it here:
Just copy/paste into pine editor and add to chart. Then enter vix close and es close.

study("VIXDAXES Expected High/Low", overlay=true)

//more info:
ES_Close= input(22.0100,title="ES Close")
VIX_Close= input(22.0100,title="VIX Close")

expectedpricechange = (VIX_Close/16) * (ES_Close/100)
rangehigh = ES_Close + expectedpricechange
rangelow = ES_Close - expectedpricechange

plot(rangehigh, color=red,style=linebr,title="Expected High")
plot(rangelow, color=green,style=linebr,title="Expected Low")

Basically you need prev day close + some sort of volatility value for what your trading.
TheYangGuizi PRO MikhailOzone
I dunno, I haven't tried it for something else. I think you would have to adjust the valuesto fit the indice etc you want to trade. This formula might work for ES and perhaps more:
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