I am using a simple formula to calculate the predicted high and low of the market based on past volatility. The calculation is simple but the result the indicator is coming up with is not the same as my manual calculation so I believe that there is something wrong within the code.
The indicator has 2 inputs. One is 'Number of Weeks' and the other is a multiplier.
The formula of the indicator should be to take the average range over a set period that we set (based on the day).
So for example, if I want to see the predicted high and low for today (lets say Wednesday), it should take the previous data from the last 4 Wednesdays to make its calculation.
The calculation for the range is simply (high minus low).
We will have the range for each of the 4 days (last 4 Wednesdays) in this example and then we would add them up and divide by 4 to predict today's range.
The indicator then takes this range and adds it to the low for a predicted high. And the indicators takes away this range to predict from the high to predict the low.
Since the low and high can change during the day, the indicator should also change when the low or high has changed.
I have a working indicator with all of the functionality built in. However, there seems to be some error within the code that is giving an incorrect high and low.
If you believe you have the expertise to fix it and can do it right away then please get in touch.
About the recuiterMember since May 20, 2018 Silvia Mega
from Tamil Nadu, India