Points of Interest

29 Agu

Indicator for displaying a timed, intraday Range of Price as a Point of Interest (POI) that you may want to track when trading as a potential magnet for price. Quite often you will see Price return to prior days price range before continuing to move. This enables you to track specific portions of a Days Trading session to see what has been revisited and what has not yet been re traded to.

The range is tracked for each trading day between the times that you specify in the Inputs ‘POI Time’ parameter You can also set the Time zone of the Range.

It will mark the Range High and Low for the timed range with lines that can be optionally extended and can be customised in terms of colour, style and width.

It will also Plot a line showing the Equilibrium of the range which is 50% from the High to the Low point of price during the time window that you specified in the ‘POI Time’ Parameter. This can also be customised in terms of visibility, colour, style and width.

You can control an optional Label for the POI Equilibrium Line to include a combination of a user defined prefix, the Date that the POI Equilibrium Line’s range is from and the Price Level of the Equilibrium Line. The colour and size of the label is also configurable

This indicator will also track when a POI Equilibrium Line has been traded to or ‘Tapped’. The tracking can be started after a configurable number of minutes have elapsed from the end of the POI Time window. This can also be customised in terms of visibility, colour, style, extended toggle and width.

Optionally Taps of the POI Equilibrium Level can be counted as valid during specific time windows or session of the day - for example only count taps during New York Morning Trading session.

The indicator uses Lower Time Frame data to compute the Range and 50% / Equilibrium Level so will work accurately on Chart Timeframes up to and including Daily with The POI Time specified down to a Minute resolution.