Where does price go based on where price opens?
The Homework (HW) RTX Indicator is designed to compute and accumulate price-based statistic on daily data. The indicator is focused on percentages of touching or closing above key prices based on the where price opens the day session. The statistics are placed in buckets based on opening positions of Higher Outside Range (HOR), Higher Inside Range (HIR), Lower Inside Range (LIR) or Lower Outside Range (LOR). If price opens the day above the previous day session high, it is considered Higher Outside Range. If price opens the day between the previous close (or Mid) and the previous high, it is considered Higher Inside Range. If price opens between the previous close (or Mid) and previous low, it's Lower Inside Range. And if price opens below previous day session low, it's Lower Inside Range. Within each 4 of these opening types (HOR/HIR/LIR/LOR) HW inspects how often we touch key prices as well as how often we close above or below these key prices. HW also looks at price pairs like 2xIBH/2xIBL, ONH/ONL, IBH/IBL and computes how often we touched both, one, or sometimes neigther of the prices. The HW Indicator should always be added to a chart set to day session, and set to a periodicity of Time Per Bar: 1 Day.
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