This Script comes straight from PivotBoss Masterclass. Script calculates compression and expansion of prices. ADR is calulated for user defined period and it is compared over 10 period. If the prices goes over 125% of average ADRin the look back period then current price is over expanded and reversal is in the corner. When Prices falls below 65% of average ADR then prices are under compression. Then you should look to position yourself in the direction of the expansion.
Expansion leads to compression. Compression leads to Expansion
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Updated Calculation to find if the prices are trading in narrow range over user defined period.
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Added Weekly and Monthly ADR
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Added option to define Narrow and Wide Range Percentage.
Can we use this indicator in our charts?
Can you please elaborate on how can I add this indicator in the chart?
Thanks in advance,
Amit
navinjt
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Hi Sir,
Do u have any indicator for showing mid point of the candle ,I mean 50% range of the candle.
Thank you.
rajijoy659
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hey can you provide for a clear explanation on how this indicator works cause i tried figuring it out but its quite confusing saw some franks videos but still couldnt understand so if you would help would be great thankyou for all the indicators:)
Nanda86
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@rajijoy659, you are welcome...this script shows you what is the avg price range for last 10 sessions --white line represents moving avg of 10 day price range..in any of the days if the price range is less than 65% 10 day avg histogram will be pink in color --- meaning price is in narrow range and ready to move and you should look for break of high or low to extend the range. If the current day price range is above 125% of avg daily range histogram will be blue in color ---meaning price is in wide range and there will be reduction in daily price range(high - low) in forth coming days...in between these range histogram will be white in color--meaning price has moved abt avg for that day..so be on the look out for narrow range and wide range days and play it accordingly... to franks rules...
@Nanda86, hi nanda please helpe me anyone.if price is less then 65% it will ready to move or break high or low side. how to know the high or low in purticular day.how to predict the direction.
Study_Material
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Hi
Great work sir, looking for this from long time
Can you please share the script with us?? It would be very helpful. Thanks in advance.
nithinvcofficial
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@Nanda86 is there anyway that you can add two more avarges on same indiactor as PB shows in the masterclasse ? . For shorter and longer periods of Avgs ?
Can we use this indicator in our charts?
Can you please elaborate on how can I add this indicator in the chart?
Thanks in advance,
Amit