Expected Price Range Indicator
Stop loss and Take profit placement has often been a random choice based on little empirical data. These pictures illustrate the expected price range movement for the selected instrument for the next 15 minutes, 30 minutes, 1 hour, 4 hours and 24 hours (depending on the timeframe of the chart).
The information is calculated for specific times of day and days of the week in order to provide the most accurate expected measure of volatility for current market conditions.
So if you have a trade duration in mind, use this indicator to help you set your exit levels appropriately.
Price Movement Per Hour/Per Day Indicator
=== Price Movement Pe Hour ===
Fundamental and Technical traders alike rely on understanding the range of the markets at particular times of the day. The main financial centers of the world all have their unique impact on trading hours. The power of this indicator lies in that you now have access to the six month average of the hourly price ranges at your fingertips.
Each hour has a correlation to the financial centers around the world. Knowing when you are likely to see volatility in a specific financial instrument, when an instrument consolidates due to lack of participation, and which time are the best to trade, gives you a look into the psychology and flow of the market.
=== Price Movement Per Day
For any market participant, an understanding of the specific ranges by day of the week can be applied to entries and so effect likely follow-through. The daily movement is a measurement of the high to low range as calculated on a 24-hour basis with the average movement for that day marked within the range.
The indicator offers insight into what the market is capable of on any given day of the week, and gives helpful detail to fine tuning entries. It can also offer part time traders insight into which days may be best for trading.