Dear Fellow Traders,

 People those who come across the JFT indicator are always amazed by
the price action happening at these zones.
 I also was curious when I first came across this indicator and wanted to
know the logic as I bit knowledgeable in various programming
languages.
 It was told that by spending lakhs this indicator was developed and so
the source code is locked by the seller of the course and indicator.
 Somehow my curiosity was pushing me to find the logic so on a
weekend analyzed 60 days of “Reliance” price and the daily zones top
and bottom and figured out the logic.
 The logic is nothing but ADR (Average Daily Range)
 Let us see how to make the zones (same logic applies to week and
month zones)
o Daily Range = High – Low
o Take previous 10 days daily range and divide by 10 == ADR10
o Take previous 5 days daily range and divide by 5 == ADR5
o Now to form the zone we need the open price of the Day == Open
o We have 2 lines at the top and 2 lines at the bottom
o Top line 1 = Open + ADR10/2
o Top line 2 = Open + ADR5/2
o Bottom line 1 = Open - ADR5/2
o Bottom line 2 = Open - ADR5/2
 The source code in version4 of pine is below.

//@version=4
study(title="DzonesV4", shorttitle="DZV4", overlay=true)

//*****************DAILY*****************//
DR = input(true, title="Show Daily Ranges")
WR = input(true, title="Show Week Ranges")
MR = input(false, title="Show Month Ranges")

OPEN=security(syminfo.tickerid, 'D',
open,lookahead=barmerge.lookahead_on)

dayrange=(high - low)

r1 = security(syminfo.tickerid, 'D',
dayrange[1],lookahead=barmerge.lookahead_on)
r2 = security(syminfo.tickerid, 'D',
dayrange[2],lookahead=barmerge.lookahead_on)
r3 = security(syminfo.tickerid, 'D',
dayrange[3],lookahead=barmerge.lookahead_on)
r4= security(syminfo.tickerid, 'D',
dayrange[4],lookahead=barmerge.lookahead_on)
r5= security(syminfo.tickerid, 'D',
dayrange[5],lookahead=barmerge.lookahead_on)
r6 = security(syminfo.tickerid, 'D',
dayrange[6],lookahead=barmerge.lookahead_on)
r7 = security(syminfo.tickerid, 'D',
dayrange[7],lookahead=barmerge.lookahead_on)
r8 = security(syminfo.tickerid, 'D',
dayrange[8],lookahead=barmerge.lookahead_on)
r9= security(syminfo.tickerid, 'D',
dayrange[9],lookahead=barmerge.lookahead_on)
r10= security(syminfo.tickerid, 'D',
dayrange[10],lookahead=barmerge.lookahead_on)

adr_10 = (r1+r2+r3+r4+r5+r6+r7+r8+r9+r10) /10

DailyL1=plot(DR?(OPEN-(adr_10/2)):na,
title="DailyL1",style=plot.style_circles,
color=color.green,linewidth=2)
DailyL2=plot(DR?(OPEN-(adr_5/2)):na,
title="DailyL2",style=plot.style_circles,
color=color.green,linewidth=2)

fill(DailyL1,DailyL2,color=color.lime)
fill(DailyH1,DailyH2,color=color.maroon)

//**********//////////WEEKLY///////****************

WOPEN=security(syminfo.tickerid, 'W',
open,lookahead=barmerge.lookahead_on)

weekrange=(high - low)

w1 = security(syminfo.tickerid, 'W',
weekrange[1],lookahead=barmerge.lookahead_on)
w2 = security(syminfo.tickerid, 'W',
weekrange[2],lookahead=barmerge.lookahead_on)
w3 = security(syminfo.tickerid, 'W',
weekrange[3],lookahead=barmerge.lookahead_on)
w4= security(syminfo.tickerid, 'W',
weekrange[4],lookahead=barmerge.lookahead_on)
w5= security(syminfo.tickerid, 'W',
weekrange[5],lookahead=barmerge.lookahead_on)
w6 = security(syminfo.tickerid, 'W',
weekrange[6],lookahead=barmerge.lookahead_on)
w7 = security(syminfo.tickerid, 'W',
weekrange[7],lookahead=barmerge.lookahead_on)
w8 = security(syminfo.tickerid, 'W',
weekrange[8],lookahead=barmerge.lookahead_on)
w9= security(syminfo.tickerid, 'W',
weekrange[9],lookahead=barmerge.lookahead_on)
w10= security(syminfo.tickerid, 'W',
weekrange[10],lookahead=barmerge.lookahead_on)

awr_10 = (w1+w2+w3+w4+w5+w6+w7+w8+w9+w10) /10

//plot
// WeekH1=plot((WOPEN+(awr_10/2)) ,
title="WeekH1",style=circles,color=red,linewidth=2)
// WeekH2=plot((WOPEN+(awr_5/2)) ,
title="WeekH2",style=circles,color=red,linewidth=2)

// WeekL1=plot((WOPEN-(awr_10/2)), title="WeekL1",style=circles,
color=green,linewidth=2)
// WeekL2=plot((WOPEN-(awr_5/2)), title="WeekL2",style=circles,
color=green,linewidth=2)

WeekH1=plot(WR?(WOPEN+(awr_10/2)):na ,
title="WeekH1",style=plot.style_circles,color=color.fuchsia,linewidth=
2)
WeekH2=plot(WR?(WOPEN+(awr_5/2)):na ,
title="WeekH2",style=plot.style_circles,color=color.fuchsia,linewidth=
2)

WeekL1=plot(WR?(WOPEN-(awr_10/2)):na,
title="WeekL1",style=plot.style_circles,
color=color.fuchsia,linewidth=2)
WeekL2=plot(WR?(WOPEN-(awr_5/2)):na,
title="WeekL2",style=plot.style_circles,
color=color.fuchsia,linewidth=2)

fill(WeekL1,WeekL2,color=color.lime)
fill(WeekH1,WeekH2,color=color.maroon)

//**********//////////MONTHLY///////****************

MOPEN=security(syminfo.tickerid, 'M',
open,lookahead=barmerge.lookahead_on)

MONrange=(high - low)

M1 = security(syminfo.tickerid, 'M',
MONrange[1],lookahead=barmerge.lookahead_on)
M2 = security(syminfo.tickerid, 'M',
MONrange[2],lookahead=barmerge.lookahead_on)
M3 = security(syminfo.tickerid, 'M',
MONrange[3],lookahead=barmerge.lookahead_on)
M4= security(syminfo.tickerid, 'M',
MONrange[4],lookahead=barmerge.lookahead_on)
M5= security(syminfo.tickerid, 'M',
MONrange[5],lookahead=barmerge.lookahead_on)
M6 = security(syminfo.tickerid, 'M',
MONrange[6],lookahead=barmerge.lookahead_on)
M7 = security(syminfo.tickerid, 'M',
MONrange[7],lookahead=barmerge.lookahead_on)
M8 = security(syminfo.tickerid, 'M',
MONrange[8],lookahead=barmerge.lookahead_on)
M9= security(syminfo.tickerid, 'M',
MONrange[9],lookahead=barmerge.lookahead_on)
M10= security(syminfo.tickerid, 'M',
MONrange[10],lookahead=barmerge.lookahead_on)
aMr_10 = (M1+M2+M3+M4+M5+M6+M7+M8+M9+M10) /10
aMr_5 = (M1+M2+M3+M4+M5) /5

MONH1=plot(MR?(MOPEN+(aMr_10/2)):na ,
title="MONH1",style=plot.style_circles,color=color.black,linewidth=2)
MONH2=plot(MR?(MOPEN+(aMr_5/2)):na ,
title="MONH2",style=plot.style_circles,color=color.black,linewidth=2)

MONL1=plot(MR?(MOPEN-(aMr_10/2)):na,
title="MONL1",style=plot.style_circles, color=color.black,linewidth=2)
MONL2=plot(MR?(MOPEN-(aMr_5/2)):na,
title="MONL2",style=plot.style_circles, color=color.black,linewidth=2)

fill(MONL1,MONL2,color=color.lime)
fill(MONH1,MONH2,color=color.maroon)

===========