Support Board
Date/Time: Sun, 11 May 2025 19:23:25 +0000
Daily Range Band study - targets come together after target exceeded
View Count: 1127
| [2016-03-01 21:02:28] |
| User13668 - Posts: 294 |
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Today on the ES futures contract is a good illustration of this problem. The Daily Range Band works as intended initially, but when price during the day starts to exceed either the upper or lower band, the two bands start to come together by the amount price exceeds the breached band. It would be better if the bands stopped moving after price exceeds either of the bands as you can then at least by how much price is exceeding the original day's range for the band that is breached. For today the daily range based on the previous 20 days average was around 38 points (depending on if one uses ADR or ATR) which gives an upper band prediction of about 1966 and a lower band of about 1890. As you can see in the attached screen grab though the bands are now (3.30pm ET) plotting at 1958 and 1938 because price went out the top band to a high of 1976. Date Time Of Last Edit: 2016-03-01 21:12:12
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 DailyRangeBandCapture.PNG / V - Attached On 2016-03-01 21:02:14 UTC - Size: 63.98 KB - 341 views |
| [2016-03-02 00:50:59] |
| Al SC Developer - Posts: 434 |
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This is working correctly, and some users may want to see it operate as is. In the next version, a new option "Stop Updating High/Low When Projected Range Met" will be added. When turned on, it will operate as you describe. |
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