Daily range filter for position entry based on ATR
We can try to put a filter for position opening if the asset already passed a certain part of the daily average range.
ex. We have 100 pp per day on average for the last 5 days.
We have already passed 80 pp long from today's opening.
In that case, we need to ignore buy signals.
It might be used also as a signal for sell entry. The probability of profit in that case is increasing:))
Here is the part on the code I made for myself (sorry I just started to code so it looks not professional:))
Yep, it is good idea!
We already can use Fibo filter filter based on 1 D1 bar, but it will not allow to compare the range with ATR.
Let's implement Daily range filter as well