TIMEFRAME RESOLUTION: * You have the option to choose Daily [D], Weekly [W], or Monthly [M]
LOOKBACK WINDOW: * This number represents how far back you want the data to pull from - Example: "250" would represent the past 250 Days, Weeks, or Months depending on what is selected in the Timeframe Resolution
RANGE 1 nth (Gray lines): * This number represents the range of the nth biggest day, week, or month in the Lookback Window - Example: "30" would represent the range of the 30th biggest day in the past 250 days. (If the Lookback Window is "250")
RANGE 2 nth (Blue lines): * This number represents the range of the nth biggest day, week, or month in the Lookback Window - Example: "10" would represent the range of the 10th biggest day in the past 250 days. (If the Lookback Window is "250")
RANGE 3 nth (Pink lines): * This number represents the range of the nth biggest day, week, or month in the Lookback Window - Example: "3" would represent the range of the 3rd biggest day in the past 250 days. (If the Lookback Window is "250")
YELLOW LINES: * The yellow lines are the average percentage move of the inputted number in the Lookback Window
SUGGESTED INPUTS:
FOR DAILY:
Lookback Window: 250 Range 1 nth: 30 Range 2 nth: 10 Range 3 nth: 3
FOR WEEKLY:
Lookback Window: 50 Range 1 nth: 10 Range 2 nth: 5 Range 3 nth: 2
FOR MONTHLY:
Lookback Window: 12 Range 1 nth: 3 Range 2 nth: 2 Range 3 nth: 1
TIMEFRAMES TO USE (If You Have TradingView Premium):
Daily: 5 minute timeframe and higher (15 minute timeframe and higher for Futures) Weekly: 15 minute timeframe and higher Monthly: Daily timeframe and higher (Monthly still has issues)
TIMEFRAMES TO USE (If You DO NOT Have TradingView Premium):
Daily: 15 minute timeframe and higher Weekly: 30 minute timeframe and higher Monthly: Daily timeframe and higher (Monthly still has issues)
IMPORTANT RELATED NOTE:
If you decide to use a higher Lookback Window, the ranges might be off and the timeframes listed above might not apply
ISSUES THAT MIGHT BE RESOLVED IN THE FUTURE
1. If it is a shortened week (No Monday or Friday), then the Weekly Ranges will show the same ranges as last week 2. Monthly ranges will change based on any timeframe used