My own custom indicator uses several other features such as ATR etc to determine best entry but this is a simple Average Daily Range designed to demonstrate how banks and other industry professionals would fill orders.
This is based on my own time working within the industry.
If you imagine we are in an upwards trend and we have an orderbook with a lot of Sell Orders. Our customers want the best price for that and the only logical way to fill these orders would be to sell at what we hope is the high of the day. As we do not know that (If we did we would be rich) we have to determine that based on how much the pair has moved recently.
share the color changing script... the green & red one
piggyfx
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@VikrantShah, sorry it's not ready for public use :)
I only uploaded this script for members of Blue MInd FX to give them an idea of daily statistical ranges and how banks etc would use them for order book filling.
If I get the colour changing script up and running better I will upload public as well :)
shetrader1
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@piggyfx, how can I subscribe to you to get more info on best way to use the indicator it’s pretty acccurate! And what to do since you said it will move range until it’s hit and can I join your group
piggyfx
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@lexytrades, sorry but I've retired from trading and most likely will not return. I became extremely unwell with COVID near the start of the pandemic and ended up with long term illness as a result which affects my attention span and perception as well as other issues.
I do not seem to be getting any better but I started new meds as part of a trial last week so I'm still hopefull.
I certainly am not in a position to help or advise you, my apologies.
kiero
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Excuse me, do you mean to say we're in upward trend and aim to be selling?
Wouldn't it be better to buy at what we perceive as lows if we're in an uptrend?
wealthy1111
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Thank for making & publishing this useful indicator ,God bless you .Always be enjoyable Trading & investing .
DayTrade916
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Awesome cript!
richardhausdorf
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simple but useful, thank you!
piggyfx
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@richardhausdorf, glad you like it! I've been suffering with Long Covid and still not 100% but hopefully back reading soon so if you need anything or what anything added to this Indicator let me know!