The indicator measures the range of each candle (difference between the high and low prices) and converts it into pips. This is useful for analyzing volatility or identifying large price movements on a chart.
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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