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Hello, and welcome to
NinjaTrader Indicator Warehouse.
Today, we are going to cover the high-low of time range
with pivot levels.
Any pro will tell you that the open high-low range of the
market is critical for gauging how the day will play out.
Add pivots to that mix, and you have a killer application.
What we're charting today is the future symbol CL in a
10-range bar.
We'll have a look at the indicator settings.
This indicator will automatically gather the high
and low of a user specified intraday time range.
I've started my chart to begin gathering this information at
9:00 AM for one hour.
I like to see the first hour opening range on CL.
All these colors are customizable.
It will also show you pivots, pivot point resistance, and
support levels--
again customizable.
I've increased the width of my pivot point and my resistance,
1, and support, 1, to a 3.
The rest I've left at a default of 1.
My high of the opening range will be this violet color and
my low a light pink.
I'm using the [? Alert ?]
[? 2 ?]
default wave file.
You can customize that file.
You can also customize the label prefix.
The default is short at and long at depending on the break
out of the high or the low.
So let's watch this in action for a moment.
This hour is going to close soon.
When it calculates the pivot levels, it is the pivot levels
for that time range that we've specified.
It will draw a price label on the chart when the price
breaks out above or below this established range.
It will also play an audible alert when the price moves
outside the established range.
Now today during this demonstration, we are pressing
on the highs of our range already.
So we'll wait and see what happens.
[BEEP]
And there is our indicator has plotted to go long, as we have
broken our high of our range we've asked
for the first hour.
As you can see, our high range is noted with
this fine violet line.
There's our pivot.
We have our support 1 plotted in green, our resistance 1
plotted in magenta.
Squeeze this in a little so you can see
the rest of the indicator.
We have resistance 2, our low of our range.
You can select the color of the text label, the font, and
the audio alert file.
A simple yet very powerful indicator.
With that, I want to thank you for joining us today.
And remember whether you are day trading the E-Mini S&P,
other future contracts, or forex, Indicator Warehouse
will help you get more profit from your online trading and
technical analysis efforts.
Thank you again for joining us.