Measuring Intraday Trading Ranges Between Configurable Times
Summary
The i-AnyRange indicator measures the high and low reached between two user-selected times during a trading day, then plots those values as horizontal levels. Its configurable inputs include the start and end times, how many days of ranges to calculate, and a horizontal shift in bars. The resulting levels can serve as reference points for testing breakout entries or pullback strategies.
The document describes the indicator’s calculation and intended use, but provides no trading rules, market examples, performance evidence, or comparison of breakout and rollback approaches. It is a range-visualization tool rather than a complete strategy: users would need to decide how to define a valid break or retracement, handle sessions and gaps, and manage risk. Its usefulness therefore depends on the chosen time window and the separate rules used to trade the plotted levels.
Key ideas
- The indicator finds the highest and lowest prices between two configurable times within each trading day.
- It displays those extremes as horizontal levels for strategy analysis.
- Users can configure the time window, calculation history, and horizontal bar shift.
- The indicator supports testing breakout and pullback ideas but does not specify entries, exits, or risk controls.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.