DRP2 is a forecasting indicator trying to predict future price ranges. It draws a red rectangle right before the bar, that graphically shows the potential range that the next bar should be. The formula used to calculate the range derives from a theory explained in “The New Science of Technical Analysis” by Tom DeMark. In this book, he apply this calculation method to daily prices, but since the formula only uses the last bar, it can be applied to any timeframe.
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