This indicator plots important session (intraday) levels for the day. It plots high and low of previous day, week, month, 52 week and all time. Also plots the vix range which shows the daily expected trading range of the instrument. These levels acts as important support/resistance for the day.
For example, if price closes above previous day, week, or month high/low it indicates bullish sentiment and vice versa for bearish.
Vix Range plots top, center, bottom line for expected trading range for the day. It is calculated based on the volatility index selected (NSE:India VIX is used by default).
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Similar to Vix Range, two new range have been added. 1. ATR Range - plots high, low line for expected trading range for the day based on ATR. 2. Percentage Range - plots high, low line based on given percentage input from the previous day close.
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1. Option to show current day, week, month open line. 2. Option to change line color and style.
2 suggestions: 1. Sometimes the labels overlap, would you be able to add an option to offset the labels, so as to aid the legibility when a potential overlap occurs? 2. In addition to the prices depicted with each label, would you be able to add a percentage that shows how far the current label’s value is to the current price?
Luis_Valderrama
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No funciona
sfcramer
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Any chance you could add current day, week and month open whenever you get some time? I really like the format of your indicator and would like to keep everything the same.
@ajithcpas, thanks for adding that. much appreciated. how do you feel about the lines only extending to the current candle? so if you're zoomed in you can still see what they all are.
ajithcpas
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@sfcramer, I afraid that will make the chart more cluttered. Also I wanted to draw the lines only from start to end of each session.
karthikey91
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How do you use this indicator by the way .??
ajithcpas
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@karthikey91, as explained these levels acts as support and resistance. I form a bullish or bearish view based on vix center and price. After that entry, exit is based on price action.
karthikey91
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Boss... somehow I stumbled upon your indicator...it just gave me a different view towards market after watching these vix levels...thanks a lot for ur work.
raja74sekhar
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Sir if possible the price line with number can adjust to visible. Becoz we have to put horizontal line for each level.
Amazing indicator! Thank you.
2 suggestions:
1. Sometimes the labels overlap, would you be able to add an option to offset the labels, so as to aid the legibility when a potential overlap occurs?
2. In addition to the prices depicted with each label, would you be able to add a percentage that shows how far the current label’s value is to the current price?