Author: mishanya
Looking to enhance your trading strategy? The DailyRange indicator might just be the tool you need. This handy indicator estimates the daily price range by analyzing the previous day's price movements, pinpointing crucial support and resistance levels for the current trading day.
For those interested in the nitty-gritty, the formulas used to calculate these price levels are detailed in "The New Science of Technical Analysis" by Thomas R. DeMark.
Originally developed in MQL4, this indicator was first introduced on CodeBase at mql4.com back on November 11, 2008.
DailyRange Indicator
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