This script is based on CD DeMark Range Expansion V1.
It works by taking the range of the last day, multiplying it by 0.38 and 0.62 a projecting them from the opening of the current day, both in the up and down directions. You can configure it to use the range of the day, the week, or whatever. You can also hide other values and display only in the current day, or current week, or whatever.
This way you can easily visualize the areas of support and resistance .
It works by taking the range of the last day, multiplying it by 0.38 and 0.62 a projecting them from the opening of the current day, both in the up and down directions. You can configure it to use the range of the day, the week, or whatever. You can also hide other values and display only in the current day, or current week, or whatever.
This way you can easily visualize the areas of support and resistance .
Notes de version:
I made some changes to the code to make it load faster. I also changed the default line styles so that they are visible even at the start of the day if you have selected the "Display only current values" option.
Notes de version:
Update to v5.
You can now use the indicator in a pre-market session. However, since the opening price has not been formed, the expansions will change once the regular session starts.
If you are using the "Display only current values" option, the expansions from the pre-market session will disappear once the regular session starts, due to PS considering it to be a new day.
It's kinda ugly, but you shouldn't be using the expansions from the pre-market sessions anyway.
You can now use the indicator in a pre-market session. However, since the opening price has not been formed, the expansions will change once the regular session starts.
If you are using the "Display only current values" option, the expansions from the pre-market session will disappear once the regular session starts, due to PS considering it to be a new day.
It's kinda ugly, but you shouldn't be using the expansions from the pre-market sessions anyway.