Day Trading Range detects new trading days and draws the open price line in white, upper and lower ATR bands in aqua based on the ATR length and multiplier, yesterday's high in red, yesterday's low in blue, and a new day marker. The higher timeframe is default daily with ATR length 5 and multiplier 0.5. It helps identify potential intraday ranges for day trading. The tool uses a non-repainting security call to fetch HTF data.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Timeframe
timeframe
D
res
ATR Length
int
5
atrLen
ATR Multiplier
float
0.5
atrMult
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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