OPEN-SOURCE SCRIPT
Enhanced High-Low Difference Indicator
Updated
The "Enhanced High-Low Difference Indicator" is a powerful tool that highlights market volatility by tracking the difference between the high and low prices of a bar. Key features include:
Customizable Threshold: Set your own threshold for the high-low difference to filter out minor fluctuations.
Visual Highlights: Bars that exceed the threshold are highlighted with customizable color and opacity settings for easy identification.
Optional Labels: Display the exact high-low difference on the bars when the threshold is exceeded, with fully customizable label color and size.
High-Low Difference Line: Optionally plot a line that tracks the high-low difference of each bar for visual reference.
Alerts: Receive real-time alerts when the high-low difference exceeds your specified threshold.
Threshold Reference Line: Plot the threshold value as a horizontal reference line on the chart.
This indicator is ideal for traders looking to identify volatility spikes and make informed trading decisions based on price action.
Release Notes
Enhanced High-Low Difference IndicatorThe "Enhanced High-Low Difference Indicator" is a powerful tool that highlights market volatility by tracking the difference between the high and low prices of a bar. Key features include:
Customizable Threshold: Set your own threshold for the high-low difference to filter out minor fluctuations.
Visual Highlights: Bars that exceed the threshold are highlighted with customizable color and opacity settings for easy identification.
Optional Labels: Display the exact high-low difference on the bars when the threshold is exceeded, with fully customizable label color and size.
High-Low Difference Line: Optionally plot a line that tracks the high-low difference of each bar for visual reference.
Alerts: Receive real-time alerts when the high-low difference exceeds your specified threshold.
Threshold Reference Line: Plot the threshold value as a horizontal reference line on the chart.
This indicator is ideal for traders looking to identify volatility spikes and make informed trading decisions based on price action.
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.
Disclaimer
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