STOPD Levels MTF Indicator
By LawrenceThe STOPD Levels MTF indicator is a simple indicator that plots the STOPD Levels on your chart based on the timeframe you’ve chosen. Nothing fancy.
Example chart below on Google with the indicator set to plot the quarterly STOPD Levels.
The blue lines mark the range from the reference period while the orange and red lines highlight the expansion targets.
Timeframes Supported
The NeoTicker version of the indicator supports daily (for intraday chart), weekly, monthly, quarter, yearly timeframe.
NinjaTrader version of the indicator works similarly.
Will update this article when I post the other versions of the indicator.
Alternative Use
Some people like to chart other range expansion multiples on their charts (i.e. Fib ratios). You can easily adapt the indicator into plotting other range based price multiples by entering their values into the parameters.
Download
I centralize free downloads in the forum. Indicators can be downloaded from software store.
End Notes
More Information on STOPD can be found from my articles here in the website or you can check out my ebook.
Is there a need to displace it?
You see the orange projection line in the chart acted as resistance right? =)
Yes its the 100% expansion from previous mid !