Good Indicator for range bound, overbought and over sold condition

i think it is amibroker

Pl find here attached file. It' working fine in Ami ver 5.3.

not working for me

error still there in ami 5.02 !!!!!!!!!

here is working ver.

_SECTION_BEGIN("Value Charts v2.0");
//// Vchart
//This was converted from code created for TradeStation by Mark W. Helweg of ValueCharts.com
// modded by [email protected] on 17th June 2011

VarNumbars = Param("Number of Bars",5,2,1000,1);
Color = IIf( Close > Open,colorGreen,colorRed);
Top = Param("Top Chart Line",8);
TopMid = Param("Top Mid Chart Line",4);
BottomMid = Param("Bottom Mid Chart Line",-4);
Bottom = Param("Bottom Chart Line",-8);
Plot(Top,"Top Chart Line",colorRed);
Plot(TopMid,"Top Mid Chart Line",colorLightGrey);
Plot(BottomMid,"Bottom Mid Chart Line",colorLightGrey);
Plot(Bottom,"Bottom Chart Line",colorRed);

LRange = 0;
VarP = round(VarNumBars/5);
if (VarNumBars > 7)
{
VarA=HHV(H,VarP)-LLV(L,VarP);
VarR1 = IIf(VarA==0 AND VarP==1,abs(C-Ref(C,-Varp)),VarA);
VarB=Ref(HHV(H,VarP),-VarP+1)-Ref(LLV(L,VarP),-VarP);
VarR2 = IIf(VarB==0 AND VARP==1,abs( Ref(C,-VarP)-Ref(C,-Varp*2) ),VarB);
VarC=Ref(HHV(H,VarP),-VarP*2)-Ref(LLV(L,VarP),-VarP*2);
VarR3 = IIf(VarC == 0 AND VarP==1,abs(Ref(C,-Varp*2)-Ref(C,-Varp*3)),VarC);
VarD = Ref(HHV(H,VarP),-VarP*3)-Ref(LLV(L,VarP),-VarP*3);
VarR4 = IIf(VarD == 0 AND VarP==1,abs(Ref(C,-Varp*3)-Ref(C,-Varp*4)),VarD);
VarE = Ref(HHV(H,VarP),-VarP*4)-Ref(LLV(L,VarP),-VarP*4);
VarR5 = IIf(VarE == 0 AND VarP==1,abs(Ref(C,-Varp*4)-Ref(C,-Varp*5)),VarE);
LRange=((VarR1+VarR2+VarR3+VarR4+VarR5)/5)*.2;
};


CDelta = abs(C - Ref(C,-1));
if (VarNumBars <=7)
{
Var0 = IIf(CDelta > (H-L) OR H==L,CDelta,(H-L));
LRange = MA(Var0,5)*.2;
}
MidBarAverage = MA( (H+L)/2,VarNumbars);
VOpen = (Open- MidBarAverage)/LRange;
VHigh = (High-MidBarAverage)/LRange;
VLow = (Low-MidBarAverage)/LRange;
VClose = (Close-MidBarAverage)/LRange;
PlotOHLC(VOpen,VHigh,VLow,VClose,"ValueChart",color,styleBar | styleThick ,-12,12);
Title= Name() + " " + WriteVal( DateTime(), formatDateTime )+
"\nVOpen " + VOpen + "\n"+ " VHigh "+ VHigh + "\n"+ " VLow " + Vlow + "\n"+ "
VClose " + VClose;
_SECTION_END();
-----------------------------------
enjoy now !!!!!!!

Hi,

Help requested for AFL formula for drawing 30min-5ema, Hourly-5ema & Daily-5ema lines in 5min chart (all 3 emas in same 5min chart). If possible selection required for previous or present bar of 30min/Hour/Daily (like "EOD" or "Next Day" for daily).

Regards,
Keerthi

Nifty was in range bound but still indicator closing above 4 and below 4 and some time near 8, this is creating more confusion

a new thread has been started

http://www.traderji.com/amibroker/55972-detect-range-bound-market.html#post565140

I am looking for indicator which works fine for both range bound market and trending market.

Is there a single indicator out there?