OPEN-SOURCE SCRIPT
Highs/Lows difference [OrganicPunch]
Highs/Lows difference indicator
To visually evaluate the difference between highs and lows of a price range.
This handsome indicator shows:
To read the numerical value, point at the circle of the relevant bar you are interested in, and see the scale.
Indicator is useful in creating strategies where you want to filter out consolidations/ranges (or to locate them), e.g. "Open trade when H/L difference is larger than 200", or "Look for candles with H/L difference lesser than 50".
The exact value of needed H/L difference can be found using this indicator.
To visually evaluate the difference between highs and lows of a price range.
This handsome indicator shows:
- difference between highs of 2 candles by displaying it in green histogram
- difference between lows of 2 candles by displaying it in red histogram
- difference between both highs and lows by displaying a circle at the level of the difference
To read the numerical value, point at the circle of the relevant bar you are interested in, and see the scale.
Indicator is useful in creating strategies where you want to filter out consolidations/ranges (or to locate them), e.g. "Open trade when H/L difference is larger than 200", or "Look for candles with H/L difference lesser than 50".
The exact value of needed H/L difference can be found using this indicator.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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