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This indicator displays candle sizes in the form of a histogram and highlights candles of the “Big Bull” and “Big Bear” type (with the largest price change).
It also displays the average true range as a line.
Volume filters (see below) filter out candles with low volumes without highlighting them.
Application:Help in finding upper and lower values in the market.
- ExtAtrPeriod = The number of bars to calculate the indicator (default value: 20).
- ExtMode: 4 operating modes to choose from:
- OPEN_CLOSE: The candle size represents the difference between the opening and closing prices.
- HIGH_LOW: The candle size represents the difference between the maximum and minimum price.
- OPEN_CLOSE_WITH_VOLUME: The candle size represents the difference between the opening and closing prices, the candle is highlighted only if the candle volume is above average.
- HIGH_LOW_WITH_VOLUME: The size of the candle represents the difference between the maximum and minimum price, the candle is highlighted only if the volume of the candle is above average.
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