![]() ![]() Tip - Use it in banknifty and Nifty with Range bound strategy I have mentioned above.1 DonForex ScalperChart for MT4 DonForex website 'A different way of trading on MetaTrader4' What is DonForex ScalperChart (formerly named as GetRichArt)? A unique and innovative expert advisor for MetaTrader4 that works with 10 different chart types (time based even seconds!, height based and tick based as well) and provides its own built in tools in order to facilitate trading, especially manual scalping and other quick trade technics. This script is unique because these are not drawn levels based on previous day unlike pivot or Fibonacci, current day open is important in this script. Take positions once the range in broken or reversal is happening from the level. When the stock seems to be little volatile both the levels applied act a good resistance. Then do a strangle of the strikes just outside the zone. ![]() Try to predict from price action whether the stock is going to be in a small range. Thanks to the author of the script.Īpply 10 days average and Fibonacci level zones in the chart Range bound movement Provided adjustment levels to determine the range for Day/Week/Month.Īdded some code from one of my favorite indicator variable moving average. Outer levels - They are also same fibonacci levels which are very much respected by all the stocks and indices. This is also a simple level where fibonnaci ratio is used to determine the levels from today's open. So on average this levels works 8/10 times which is very bigger in stock market.įibonnaci levels zones - This zone is derived from Thomas de-mark book. ![]() Logic is - since the script has stayed within the range for past 10 days it remains to stay in the same levels even today. ![]() This is a very powerful resistance and support line.Īverage 10 days levels - These are just calculated based on average 10 previous days. I feel this is one of the underrated line. Open line - Line drawn based on the open of the candle. This script can be used only on the current day/week/month and can't be used to predict the next sessions movement as this script uses current open price. This script provides few levels which are not just leading but also perfect. I always prefer to choose a leading which can help me determine my trades future hand. There are 2 types of indicators in the market. As the name says this script will be perfect. ![]()
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February 2023
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