Summary of Major Functionality
This Indicator shows the trading range for Asia, Frankfurt, London and New York foreign exchange markets using coloured rectangles. The demarcation helps the trader differentiate between the markets and helps in setting targets based on the width of the Asian range. It has the capability of drawing horizontal lines to mark out the daily, weekly or monthly highs, lows, open or close price points. These price points often line up with Fibonacci retracement lines and are often used as targets for profit stops, stop losses or market entry points. The indicator settings enable it to be configured to show any number of days in the past up to and including the current day.
The following is a picture of the indicator on invocation :-
The green rectangle shows the Asian Markets range, light blue represents Frankfurt and dark blue London, Yellow represents New York market. The grey rectangles above and below the green rectangle represent 1 Asian range above and below the actual Asian range. The rectangles are selectable and can be copied. There is an option to instruct the indicator to create multiple Asian range rectangles above and below the actual Asian market range.
To set the daily, weekly or monthly high, low, open or close lines access the following options.
For more details about this indicator contact the author Simon using my contact details found on my website http://ozff.org or by clicking on the link here.
Thanks for reading about my indicator ShowRangev4.2.