Here is the actual 3 day rolling pivot range indicator as detailed in Mark Fisher's book The Logical Trader.
// Shows the price renko bars (or range bars) instead of the PERIOD renko // bars that are integrated into Trading View. The normal renko bars that // Trading View offers only consider the drawing of a new brick when the // price closes above or below the required brick size. This can produce // misleading charts since depending on the time interval of a chart,...
This is the Market Mean index. It is used to identify if the market is really trending or if it is range bound(random). In theory, a random sample will be mean reverting 75% of the time. This indicator checks to see what how much the market is mean reverting and converts it to a percentage. If the index is around 75 or higher than the price curve of the market is...
Part of my strategy involves entering a trade based on a candle on a 5-min chart being < 2% (ignoring major volatility). I got tired of calculating the range of a single candle either in my head or on a calculator, so I wrote this up. Feel free to share it. Shows the %move of any single candle, default horizontal lines are 1% & 2%, can be changed by clicking...