Indicator to show total Length of a Candlestick or Bar for NT 7.0
Wondering if anyone knows if there is an indicator for NT 7.0 where the total length (range) of a Candle or Bar can be shown on the chart somewhere? I am not taking about Range bars. I want an indicator that will show the length of a Candlestick or Bar for each bar so that if I want to enter below or above the bar then I know what my total risk is, quickly!
I have searched high and low for such an indicator but have not been able to find anything yet.
Any help would be much appreciated.
The following user says Thank You to tom_c for this post:
Does that mean that you put your stops above or below wide ranging bars, as everybody else does? Those zones are attractors, as the stops are sitting there and begging for being triggered.
Here is an indicator that draws the lines, where you may expect the stops being put by retail traders. The ranges shown on the chart are just a bit wider than the bars used for setting the stops, so that they will include part of the stops which are waiting
Your indicator can be easily coded. Do you really want all the range values to be printed on your chart, or just the range value of the second but the last bar ?
I guess I deleted it, but I did this before as just a lower indicator with a bar plot and a line marking the max stop and had it plot red if it went over the line. I liked it because it made it easy to skip the big bars when reviewing historical charts. I don't know if that's what tom wants or not, but just a suggestion.
Actually, the indicator I am looking for is really simple. Perhaps too simple and you may not even call it an indicator As mentioned previously in my last post, all I'm looking for is to be able to see the full range of any candlestick or bar on a chart as it is forming.
For example, lets say I'm looking at Crude and the latest bar or candlestick has a High of 97.00 and a low of 96.90. Well, then I would like a visual representation somewhere on the chart that tells me the range of the current bar is 10 ticks or even better than that would be the dollar figure of $100. But ticks is fine also. And that's all. Nothing more than that.
Just not sure whether this value should be shown on top/below of the current bar or somewhere completely away from the bar. Perhaps in one of the corners. Not sure because it would depend how big the font is as I prefer to have a clean looking chart with nothing cluttering my price bars.
If either of you can help me out with this indicator then I will be most grateful.
Yes, I am using it on NT 7 and it is working as intended. I just imported it and then applied it from the indicator list and played with the options to get the desired placement of the values under the bar and that was it.