THIS IS FOR METATRADER 5
Hi, it is project to create sets of Levels/Lines following Daily Range Number. Below are the details;;
Daily Range Number
There will be formula which I can edit and change from the Parameters of the Indicator, things are required
1) Yesterday High
2) Yesterday Low
3) Number of Pips (I can change to any number I want)
So here is the formula;
[ ( Yesterday high - Yesterday low) + 500 pips ] / 2
After getting the result, round down the number to the nearest odd number. For example if the result is 13.00 , so the final Daily Range Number will be 12.99.
The Daily Range Number should be appear on the chart day to day basis
Sets of Levels/Lines
Following the Daily Range Number, create a sets of line from the highest and lowest of that day including half of each of the Daily Range Number or 0.5, 1.5 , 2.5, 3.5, etc (Fibo).
Every day, there are 2 sets Level/Line which is 1 is taking from Low of the day. Another 1 is from High of the day. This 2 Line I can edit the color.
I can also double click either 1 of the set of line and delete it, the other 1 will be remain.
EXAMPLE
Based on Gold Market 16.01.2025,
[ ( Yesterday High - Yesterday Low ) + 500 pips ] / 2
[ ( 2697.38 - 2669.38 ) + 5.00 ] / 2
[ ( 28.00 + 5.00 ) ] /2
33.00 / 2 = 16.50
16.50 round down to nearest odd number is 16.49
Daily Range Number for Gold Market 16.01.2025 = 16.49
Below is the example;
Then the 2 Sets of Level/Lines will be taking from High and Low on that day following below picture;
Red is from Low of the day,
Blue is from High of the day,
When mix together,
** Also please note that during Live Market, the sets of Level/Lines will change as it will follow the High and Low of the day
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