Description
This is an intraday indicator of MultiCharts.
Generated from the experience of a famous full-time trading expert.
It can automatically calculate the possible upper and lower boundaries of the day’s movement when the market opens every day.
When it gets close to the boundary price but cannot break out it, it may be the highest/lowest price of the day. (For Reversal trading)
When the market not break out the boundary yet, it is likely to be in consolidation not trend.
Or when it breaks out the boundary, it may represent that this day has a trend direction.(For Trend Following trading)
This indicator can provide to traders a very simple but practical reference for analyzing the direction of intraday.
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