TheYangGuizi

DAX Expected High/Low

271 4 15
Uses VDAX ( dax             volatility index ) to calculate the expected daily range of the Dax             .
formula: http://daytrading.about.com/od/indicators/a/VDAXDailyRange.htm

Input the dax             previous days close
and
This value: http://www.investing.com/indices/vdax
and
The indicator will do the rest
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//@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)")
MikhailOzone
5 months ago
Nice script. Does it work with DAX only? I'd like to change exchange and stock.
Reply
TheYangGuizi MikhailOzone
5 months ago
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: https://futures.io/331401-post6.html
Reply
beursadviezen
a month ago
What kind of platform do you use for this script? Because I get errors when I paste the script in it.

Thanks in advance.
Reply
beursadviezen beursadviezen
a month ago
I use MT4-platform
Reply
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