OPEN-SOURCE SCRIPT
Average Candle
Average Candle is a simple volatility display indicator. It calculates the average candle range on a chosen higher timeframe (most commonly Daily) over a selected number of candles, converts that average range into pips, and shows the result as a small label on the chart.
Traders can use it to quickly see “typical” movement for the day (or any timeframe) and adjust expectations for entries, stop loss distance, take profit targets, and position sizing.
Traders can use it to quickly see “typical” movement for the day (or any timeframe) and adjust expectations for entries, stop loss distance, take profit targets, and position sizing.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.