Points of Interest

How it works

The indicator generates a Point of Interest (POI) by tracking price range and equilibrium within a user-defined time window during a trading day. It calculates the price range's high and low points and marks a central equilibrium line at the 50% level between these extremes.

Traders can customize the indicator's parameters, including time zone, range tracking period, and visual settings like line color, style, and width. The system uses lower timeframe data to compute the range, ensuring accuracy across different chart timeframes from intraday to daily intervals.

Why it may be useful

This indicator helps traders identify potential price reversal and continuation zones by highlighting previous day's trading ranges. By marking the equilibrium level, it provides a strategic reference point for understanding market dynamics and potential price magnetism.

The POI tracking mechanism allows traders to assess how price interacts with historical ranges, offering insights into market sentiment and potential trading opportunities. Its flexibility in configuration enables traders to adapt the tool to their specific trading style and market context.

When to explore it

The indicator is most effective during active trading sessions with consistent price movement and liquidity. It works best in markets with clear intraday trends and recognizable range-bound behavior, such as forex, futures, and highly liquid stocks.

Traders should utilize this tool when seeking to understand price revisit probabilities and potential support/resistance levels within a specific time window. It is particularly useful for day traders and scalpers who focus on short-term price movements and seek precise entry and exit points.

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