Hello Traders,
I am using TradingView for few years and I am loving it.
I am looking for an indicator that automatically measures the size of candles for x period of time and give you some details such as what was the biggest or smallest or average size of candles…
Such tool will help to determine how long approximately takes to hit your TP or SL.
Average True Range (ATR) is a widely available indicator in most programmes which measures the size (range) of candles from high to low over a period of candles and then displays the average of these. The usual default number of candle sit works on is 14 but this is adjustable by the user. Unfortunately it doesn’t indicate the biggest or smallest candles in the period.
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i think you can “read that off” easily enough, by displaying an additional ATR set to 1, using a “step line,” can’t you?
the slow ATR then shows you the average candle-range over the number of bars specified in its setting, and the horizontal sections of the step-line one set to 1 enables you to see the highest and lowest during that period? i think that’s available in TradingView?
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Thank you for your response. However, what I am looking for is an indicator that tells me the biggest, smallest and average size of candles in x period of time … which i believe it doesn’t exist … at least so far.