Nick_OS Ranges

UNDERSTANDING THE SCRIPT:

TIMEFRAME RESOLUTION:
* You have the option to choose Daily , Weekly , or Monthly

LOOKBACK WINDOW:
* This number represents how far back you want the data to pull from
- Example: "250" would represent the past 250 Days, Weeks, or Months depending on what is selected in the Timeframe Resolution

RANGE 1 nth (Gray lines):
* This number represents the range of the nth biggest day, week, or month in the Lookback Window
- Example: "30" would represent the range of the 30th biggest day in the past 250 days. (If the Lookback Window is "250")

RANGE 2 nth (Blue lines):
* This number represents the range of the nth biggest day, week, or month in the Lookback Window
- Example: "10" would represent the range of the 10th biggest day in the past 250 days. (If the Lookback Window is "250")

RANGE 3 nth (Pink lines):
* This number represents the range of the nth biggest day, week, or month in the Lookback Window
- Example: "3" would represent the range of the 3rd biggest day in the past 250 days. (If the Lookback Window is "250")

YELLOW LINES:
* The yellow lines are the average percentage move of the inputted number in the Lookback Window


SUGGESTED INPUTS:

FOR DAILY:

Lookback Window: 250
Range 1 nth: 30
Range 2 nth: 10
Range 3 nth: 3


FOR WEEKLY:

Lookback Window: 50
Range 1 nth: 10
Range 2 nth: 5
Range 3 nth: 2


FOR MONTHLY:

Lookback Window: 12
Range 1 nth: 3
Range 2 nth: 2
Range 3 nth: 1


TIMEFRAMES TO USE (If You Have TradingView Premium):

Daily: 5 minute timeframe and higher (15 minute timeframe and higher for Futures)
Weekly: 15 minute timeframe and higher
Monthly: Daily timeframe and higher (Monthly still has issues)

TIMEFRAMES TO USE (If You DO NOT Have TradingView Premium):

Daily: 15 minute timeframe and higher
Weekly: 30 minute timeframe and higher
Monthly: Daily timeframe and higher (Monthly still has issues)


IMPORTANT RELATED NOTE:

If you decide to use a higher Lookback Window, the ranges might be off and the timeframes listed above might not apply

ISSUES THAT MIGHT BE RESOLVED IN THE FUTURE

1. If it is a shortened week (No Monday or Friday), then the Weekly Ranges will show the same ranges as last week
2. Monthly ranges will change based on any timeframe used

הערות שחרור:

Ranges plot update (had to "offset = -1")