Average Daily Range Zones from Recent Price History

Summary

The indicator estimates a possible daily price zone from recent trading ranges. It reports the previous day's range and averages over 2-, 5-, 10-, and 20-day periods, with the 20-day history described as the basis for estimating the current day's movement. A chart rectangle visualizes the estimated zone, and its appearance can be customized.

The user selects an upward or downward anchor, labeled Room_up or Room_down, to position the range according to a perceived market direction. The description presents this as a way to frame potential price levels for the day, but it gives no validation, performance results, or rules for entering or exiting trades. The estimate is historical and directional anchoring depends on the user's trend judgment, so the indicated zone should not be read as a forecast guarantee.

Key ideas

• The indicator summarizes daily ranges using the prior day and 2-, 5-, 10-, and 20-day averages.
• A chart rectangle displays an estimated current-day price zone.
• The selected Room_up or Room_down anchor determines how the zone is positioned.
• The document provides no performance evidence or explicit trading and risk rules.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.