// Indicator for `Dhokiya's Research Analyst` by Rahul Dhangar (rahuldhangar@gmail.com)
// © rahuld0890
//@version=6
indicator("Dhokiya's 0.09% Indicator", overlay=true)
// Get 5-minute timeframe values
var float dailyFirstOpen = na
var float dailyFirstClose = na
// Check for new day in 5-minute timeframe
isNewDay = ta.change(time("D")) != 0
// Capture first 5-minute open/close on new day
if isNewDay
dailyFirstOpen := open
dailyFirstClose := close
else
// Carry forward previous values
dailyFirstOpen := dailyFirstOpen[1]
dailyFirstClose := dailyFirstClose[1]
// Fetch values from 5-minute timeframe
firstOpen = request.security(syminfo.tickerid, "5", dailyFirstOpen, lookahead=barmerge.lookahead_off)
firstClose = request.security(syminfo.tickerid, "5", dailyFirstClose, lookahead=barmerge.lookahead_off)
// Calculate values
M5Close = firstClose
lowerOrb = M5Close - (M5Close * 0.0009)
upperOrb = M5Close + (M5Close * 0.0009)
diffHighLow = upperOrb - lowerOrb
targetPoints = 2 * diffHighLow
lowerTarget = lowerOrb - (2 * diffHighLow)
upperTarget = upperOrb + (2 * diffHighLow)
// Plot lines
plot(0, display = display.data_window, title="+-+-+-+-+-+-+-+-+-+-+-+-+-+")
plot(M5Close, display = display.data_window, title="M5 Close")
plot(diffHighLow, display = display.data_window, title="Difference in High & Low Lines:")
plot(targetPoints, display = display.data_window, title="Target Points:")
plot(0, display = display.data_window, title="+-+-+-+-+-+-+-+-+-+-+-+-+-+")
plot(upperOrb, color=color.new(#4caf4f, 30), title="Buy Above (High Line)", linewidth=2)
plot(upperTarget, color=color.new(color.green, 30), title="Buy Target", style=plot.style_cross, linewidth=1)
plot(0, display = display.data_window, title="+-+-+-+-+-+-+-+-+-+-+-+-+-+")
plot(lowerOrb, color=color.new(color.red, 30), title="Sell Below (Low Line)", linewidth=2)
plot(lowerTarget, color=color.new(color.red, 30), title="Sell Target", style=plot.style_cross, linewidth=1)
plot(0, display = display.data_window, title="+-+-+-+-+-+-+-+-+-+-+-+-+-+")
