EXPERIMENTAL:
similar to renko.
similar to renko.
//@version=2 study(title='[RS]Adaptive Range Candles V0', shorttitle='ARC', overlay=true) multiplier = input(title='Range Multiplier:', type=float, defval=0.01) SHOW_CLOSE_LINE = input(title='Show Close Line?', type=bool, defval=true) h = na(h[1]) ? high : high >= h[1] ? high : h[1] l = na(l[1]) ? low : low <= l[1] ? low : l[1] range = (h-l)*multiplier avg = na(avg[1]) ? close : close > avg[1] + range ? close : close < avg[1] - range ? close : avg[1] pavg = change(avg) != 0 ? valuewhen(change(avg) != 0, avg, 1) : pavg[1] plotcandle(pavg, high, low, avg, color=avg > pavg ? lime : red) plot(title='C', series=SHOW_CLOSE_LINE?close:na, color=black, linewidth=1, transp=0)