Draws 3 leg bands along with safe zone(green lines) based on input
1) Input ATR, Week Day, Current Market Close 2) Input ATR - Previous day 1H Max ATR 3) ADX < 25 4) Input Current Market Close 5) Trading Day - Mon/Tue/Wed/Thu/Fri - Bands distance calculated based on day M/Tu/F 2*(Max ATR), W/Th 1.5(ATR) 6) Safe zone green lines - CMPCls +/- (1.5 * Max ATR) 7) Leg 1 Upper Lower Legs - M/Tu/F - CMPCls +/-(2 * Max ATR), W/Th - CMPCls +/-(1.5 * ATR) 8) Leg 2 & 3 Calculates based on Leg 2 = Leg 1 +/- 100 pts distance, Leg 3 = Leg 2 +/- 100 pts distance' 9) All figures rounded to nearest 100's 10) Safe zone broken exit all positions
This is a popular technic used by Profitable traders on sideway markets for Intraday One can keep 3K as SL per 1 set of 3 legs for better R:R