Expected Move Plotter

I get a lot of requests about my indicators that I use. Unfortunately, at this time I cannot make those public but I thought about creating a makeshift alternative people could use as a reference.

I came up with this very simple yet extremely effective indicator. I call it the average or expected move plotter, but its essentially the average move plotter.

All it does is it averages out the move from open to high and low on a monthly, weekly and daily basis over the past 5 days and plots the expected move.
It really is that simple!

I have broken it down by month, week and day, so you can see the average expected move on whichever time frame you prefer.

I will use TSLA as the example.

Here is the daily:

Here is the weekly:

And here is the monthly:

You can switch between whichever timeframe you are working on and it permits all traders (day traders and swing traders) to assist in setting realistic target prices within their desired time frame.

It works on any stock, index, commodity or future.
I have also ensured that it will work with Heikin Ashi candles, for those (like myself) who are fond of those candles.


Let me know if you have any questions and if you like it!

Take care everyone and trade safe!

Versionsinformation:

Updated the indicator. This will now technically replace the Expected move Plotter Intra-day indicator as well.

The update includes:
1. Pushing the data into arrays to permit further lookback time
2. Provides full customizability to the timeframe, if you want to see the expected move on the 5, 10, 15, 30, or whatever timeframe you want, you can now do that.
3. Provides back-test results. You can see the amount of time the bull or bear target was hit in the lookback period.
4. Added EMA9/EMA21 for a reference within the indicator.

I have done an update video for this indicator:

05:19