An intraday indicator that calculates expected price moves across multiple timeframes by analyzing average price movements and potential market sentiment.
Explore complementary indicator rolesHow it works
The indicator analyzes price movements across 15, 30, and 60-minute timeframes by calculating the average high-to-low range over the past 5 candle periods. It plots expected price moves based on these historical price ranges, providing traders with potential support and resistance levels.
Additionally, the indicator determines market sentiment by comparing the average of the previous 5-minute candle's high, low, and close against the current 5-minute candle's close. This method is similar to pivot point calculations, allowing traders to understand potential price direction and momentum.
Why it may be useful
This indicator helps traders identify potential areas of price reversal and market sentiment by providing a systematic approach to understanding price movement dynamics. By offering expected move ranges across multiple timeframes, it gives traders a structured method to assess potential trading opportunities and market behavior.
The flexibility of being able to toggle different timeframes and sentiment fills allows traders to customize the indicator to their specific trading style and market preferences. This adaptability makes it a valuable tool for traders seeking to understand potential price movements and market sentiment.
When to explore it
The indicator works best during periods of consistent market movement, particularly for intraday trading strategies focused on identifying potential support and resistance levels. Traders should look for clear rejections or confirmations of plotted levels before making trading decisions.
It is most effective when used in conjunction with other technical analysis tools and when applied to stocks or markets with sufficient liquidity and price movement. Traders should pay special attention to the interactions between different timeframe plots and use the indicator as a complementary tool to confirm potential entry and exit points.
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
