DAX Expected High/Low

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Uses VDAX ( dax volatility index) to calculate the expected daily range of the Dax .

Input the dax previous days close
This value:
The indicator will do the rest
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study("VDAX Expected High/Low", overlay=true)
VDAX= input(000.0000,title="VDAX")
pdc = security(tickerid, Timeframe, close[1])
PREVDAYCLOSE= input(000.0000, title="Previous (Timeframe) Close")

sy = input(false, title="Show Previous (Timeframe) Close?")
plot(sy and pdc ? pdc : na, title="Previous Days Close", style=cross, linewidth=1, color=teal)


plot(EXPECTEDHIGH, color=red,style=linebr,title="Expected High")
plot(EXPECTEDLOW, color=green,style=linebr,title="Expected Low")
plot(avg(EXPECTEDHIGH,PREVDAYCLOSE), color=black,style=circles,title="Average Expected High")
plot(avg(EXPECTEDLOW,PREVDAYCLOSE), color=black,style=circles,title="Average Expected Low")
plot(PERCENTDAILYRANGE, color=red,style=linebr,title="% (hide this if it messes up the auto scale)")
plot(POINTSAILYRANGE, color=red,style=linebr,title="P DR (hide this if it messes up the auto scale)")
What kind of platform do you use for this script? Because I get errors when I paste the script in it.

Thanks in advance.
beursadviezen beursadviezen
I use MT4-platform
Nice script. Does it work with DAX only? I'd like to change exchange and stock.
TheYangGuizi MikhailOzone
This formula might work for both dax and ES, other than that I don't know. Found it here:
Just copy/paste into pine editor and add to chart. Then enter vix close and es close.

study("VIXDAXES Expected High/Low", overlay=true)

//more info:
ES_Close= input(22.0100,title="ES Close")
VIX_Close= input(22.0100,title="VIX Close")

expectedpricechange = (VIX_Close/16) * (ES_Close/100)
rangehigh = ES_Close + expectedpricechange
rangelow = ES_Close - expectedpricechange

plot(rangehigh, color=red,style=linebr,title="Expected High")
plot(rangelow, color=green,style=linebr,title="Expected Low")

Basically you need prev day close + some sort of volatility value for what your trading.
TheYangGuizi MikhailOzone
I dunno, I haven't tried it for something else. I think you would have to adjust the valuesto fit the indice etc you want to trade. This formula might work for ES and perhaps more:
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