A moving indicator that is overlaid main chart. Identifies the start of the day, and then applies this formula: ( Current High of Day + Current Low of Day ) / 2, to get the mid point. It is a useful tool to identify buy side or sell side control, along with vwap.
Hi Bartjs, Thank you for the wonderful script, it's just what I was looking for... 😊
Quick question: When I have the 5-minute chart open throughout the day for Gold (/CL), the "mid-point" will move as each new candle is printed even though no new high (or low) was made..... BUT, when I "reload" the chart, the "mid-point" is correctly indicated throughout the based on the day's high and low.... Any ideas what I'm doing wrong? 🤔
Basically... Chart remains open = "Mid-point" moves with each new candle printed Chart reloaded = "Mid-point" is correct based on the day's established high & low price (but then the "mid-point" will move as soon as a new candle is printed).
bharathiforex
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this midpoint shows yesterday last minite
lawfuller
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Can you help me understand why this plots a line different from the 50% Fib retracement that I draw from the session's high and low (on ES1!)? (And thank you for this indicator.)