Market Profile defines a number of day types that can help the trader to determine market behavior. A key feature is the Value Area, representing the range of price action where 70% of trading took place. Understanding the Value Area can give traders valuable insight into market direction and establish the higher odds trade.
Blahtech Daily Range indicator displays the average daily range alongside the individual session ranges. Using the daily open price as a reference the indicator shows fixed range and dynamic range targets as lines on the charts. These lines clearly show when the average range has been exhausted. Daily and session ranges can be useful for confirming entries or setting targets and is an excellent odds enhancer for many trading systems.