How to use it… Raghu kindly explain (Open high /Open low). How to take benefit?

Mr.Raghu kindly explain as to how do we use your indicator. It would be very helpful

this is just exploration , which will give results..

1. If Open = low , and volume is good , most probably the stock is can be bought for long with that day as LOW as Stop loss..

2. If open = high , short the stock with stop loss as Day high..

hope this will help..

Indicator is very good.What is the best time frame to use it for day trading.

Gr8 Raghu. You are quite an intelligent guy !

Could you explain a bit more.

Because you don’t know if Open = Low or High before the close that day, so I guess you mean buy/short on next day then, or?

Quite simple and very helpful.
Just a suggestion or question, how to add a code in units of “percentage change” in a separate column?
Thank You.

what is the system download afl file.plz help
I don’t see download file

plese picture !!!!!

The ready scanner can be used from the below link

http://www.pivottrading.co.in/scanner/openHighLowScanner.php

I try to add arrow so you can put this indicator into a price chart

Buy = Open == Low;
 
Sell = Open == High;
 
Noise = High > Close; 
 
AddColumn(Open,"Open");
AddColumn(Close,"Close");
AddColumn(High,"High");
AddColumn(Low,"Low");
 
Filter= (Buy OR Sell) AND Noise; 
 
AddColumn(IIf(Buy,Open,Null)," open=low ", 6.2,1.2,colorGreen); 
AddColumn(IIf(Sell,Open,Null)," open= high ",6.2,1.2,colorOrange);

up=Open == Low;
down=Open == High;


shape = up * shapeUpArrow;
PlotShapes( shape, IIf( up, colorLime, colorRed ), layer = 0, yposition = H, offset = -100);

shape = down * shapeDownArrow;
PlotShapes( shape, IIf( down, colorRed, colorLime ), layer = 0, yposition = H, offset = -100);