Can someone help me with building a Custom Indicator for NT 6? What I need is to build an Indicator of:
Current Open Price (0) + 2 Std Dev of (Highs - Opens) [for n periods back].
What I need is to add, to the current Open, 2 Std Dev of the Diff between Highs and Opens. For whatever past periods I choose (i.e. 14)
For example: As soon as a Bar Opens I want to plot above that open, 2 Std Dev (of the difference between the Highs and the Opens for the past "x"periods).
What I do in excel is that I calculate for each of the previous Bars the difference between the High and the Low, and from there I calculate the Std Dev of those differences for the Period that I select (i.e. 14). Finally I add the last Std Dev (14) * 2 to the current open. That gives me an idea of the expected magnitud of my potential new High. The larger it is, the more consistent it is with a Long position and viceversa, the shorter it is, the more consistent with a Short position.
Thanks in advance for your help
HJS
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