max pip movement in a single candle
from open to high/low (whichever applicable)
used to find patterns for forex binary strangles or butterflies
enjoy.... j.tate 03.05.2018
default built for EUR/USD... change input for JPY pairs.
Draws 3 leg bands along with safe zone(green lines) based on input
1) Input ATR, Week Day, Current Market Close
2) Input ATR - Previous day 1H Max ATR
3) ADX < 25
4) Input Current Market Close
5) Trading Day - Mon/Tue/Wed/Thu/Fri - Bands distance calculated based on day M/Tu/F 2*(Max ATR), W/Th 1.5(ATR)
6) Safe zone green lines - CMPCls +/- (1.5 * Max ATR)
This script shows average absolute values of the open minus close (or largest of open to high/low if option is selected), for each hour of the day. It can be used to find high and low volatility hours for strangles and butterflies.
You must have the daily time frame selected for it to work properly.
The "mul" multiplier will show "whole pips" (i.e. 10 instead of...