I am looking for an indicator that its current value is the average of high-low or close-open for last x periods.
I want to have an idea of how much the price can go up or down so that I put a realistic take profit.
Or is it better to use high-low of previous day as support/resistance levels to calculate price range?
I lose many trades cause my take profit is higher than how much the price can move up or down.
Price High - Price Low = 10 pips
I think that price will go up.
How much should I put the take profit? 10 pips, 25%=2.5pips, 50%=5pips, 75%=7.5pips or 100%=10pips