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TheYangGuizi
Jul 4, 2016 10:26 AM

DAX Expected High/Low 

FX:GER305
DAX index of German listed sharesFXCM

Description

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

Input the dax previous days close
and
This value: investing.com/indices/vdax
and
The indicator will do the rest
DAX IndexGER30 CFDrange
Comments
beursadviezen
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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
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I use MT4-platform
MikhailOzone
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Nice script. Does it work with DAX only? I'd like to change exchange and stock.
TheYangGuizi
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This formula might work for both dax and ES, other than that I don't know. Found it here: futures.io/331401-post6.html
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: futures.io/331401-post6.html
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
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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: futures.io/331401-post6.html
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