OPEN-SOURCE SCRIPT
Updated Candle Size w/ SMA
This simple indicator calculates the absolute size of the candle by the open and close or high and low values and then plots it on a histogram. It also features a simple moving average with a customizable lookback to track the average candle size based on your lookback.
This indicator can be used to spot unusually large or small candles. And can also be used for testing other strategies or indicators related to candle sizes.
This indicator can be used to spot unusually large or small candles. And can also be used for testing other strategies or indicators related to candle sizes.
Release Notes
updated titlesRelease Notes
small updateRelease Notes
Added Multi-Time Frame functionality. This can be used so you can see a lower timeframe yet still know what the candle size or average candle size is on higher time frames.
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 publications is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
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