I would like to write an indicator that will tell me where in the range between the high and the low a stock closes on any given day. 

I would like it to be a % of the total range. 

I would like to put a scale on the right side of the chart where the low of the day would be 0% and the high of the day would be 100%. 

I want to be able to plot that number on a chart as a line, like Money Stream for example. 

I want to have a line at the 50% mark on the scale so I can easily see whether the stock closed in the upper or lower 50% of its range and, viewing the line, be able to see how it has acted over X period of time.

Can you please tell me how to do this?

Thank YOu

Tristram

Add 1 Period Stochastic to the chart with the %K setting set to 1 as well.

Adding and Moving Indicators (7:19)
Understanding Stochastics