A convenient tool for measuring the distance between prices in points.
There is a magnetization to the OHLC prices. Calculation of the profit based on the specified
lot size, with or without the current spread. Counting numbers
bars between the specified points and the time difference. The calculation of the angle
deviations from the horizontal position. You can
hide unnecessary parameters. In the inactive state, it does not take up much space on the chart.
adding the indicator to the chart at the specified location (X distance, Y
distance) the label “Ruler”will appear. To activate the mode
of course, you need to click on it with the mouse. After that, you will see
a table with the current parameters. To perform the measurement, you must
set the coordinates of two points on the chart by clicking the mouse in the desired places.
After making the measurements, click on the label “Ruler” for
deactivation of the measurement mode.
- X distance – the X coordinate of the “Ruler”label.
- Y distance – the Y coordinate of the “Ruler”label.
- Magnet area – the area of magnetization in points.
- Display points-display the distance (the absolute value of the difference) between the specified prices in points (see Note 1).
- Display profit-display the calculated profit value expressed in the base currency.
- Consider the spread-take into account the current spread value when calculating the profit.
- Lot size – the lot size for calculating the profit.
bars count-display the number of bars between the specified points, taking into
account the extreme bars (if the beginning and end match, it will be displayed
a value of 1).
- Display time diff-display the time difference between the specified points.
angle-display the absolute value of the angle of deviation of the segment from
horizontal position (see Note 2), disabled by default.
- Angle coeff-the coefficient of the time scale for calculating the angle.
- Text color (active) – the color of the text (measurement mode is active).
- Text color (inactive) – text color (measurement mode is not active).
- Line color – the color of the lines.
- Display projections – display projections.
The distance between two prices in points will be displayed forcibly
if none of the displayed parameters is selected.
Note 2: The
angle of deviation from the horizontal position is a very arbitrary
value. It is calculated using the formula a = arctan(dpp/(k*len)), where dpp is the
distance between two points in points, len is the number of bars
(including boundary values), k-coefficient of the time scale (Angle
coeff parameter). The coefficient is selected individually for the current scale
of the price and time axes.