Multi Range Indicator
This breakthrough indicator reveals Stochastic overbought and oversold levels from multiple timeframes on ONE chart. That gives you a unique opportunity to pinpoint exactly where price is likely to reverse with the natural ‘ebb and flow’ of the market. It can reveal precise entries in runaway moves and identify tops and bottoms in range, making this a powerful tool for both trending and non-trending conditions. Multi-Range is a multi time frame study that shows the current alignment of either Stochstic or RSI for multiple higher time frames than the current chart. Up to 18 different Stochastic and / or RSI label studies for different time frames may be read on a single chart. Color of the study's labels will be red for overbought, green for oversold or grey for Neutral. Tool is based on the idea that real power of price comes from the confluence of trend alignment across multiple time frames and to detect pattern shifts and setups earlier with good stop outs based on the lower time frame supports. What does it do: Multi Range indicator:
- helps provide at a glance whether or not the tide is rolling in your favor by understanding whether the respective studies are stacked or aligned with your sentiment on multiple higher time frames.
Available On: ThinkorSwim, TradeStation