rmunoz

Average Candle Length

This script is designed to show you the average candle size in pips (wick to wick) for however many bars you choose (20 is default).

The idea is that if the average candle size for the last 20 bars is, let's say 25, you would probably not want to set your stop loss less than 25 because it is more likely to get hit.




if you find this script helpful, tips and donations are always appreciated (venmo @rick-munoz) :)
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Comments

Hi, thanks for the script. Whats the purpose of the multiplier?
+5 Reply
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