OPEN-SOURCE SCRIPT

Closing Range

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Indicator shows the closing range of each bar. Closing range is where the bar closes (high - close) relative to the length of the wick (high - low). A close at the top of the wick would be 100%, middle 50%, bottom 0%.

In addition, the indicator multiplies closing range by volume to weight toward high volume days.

A simple moving average is applied to visualize trend in volume-weighted closing range over time.

Options include changing the threshold of bullish closes. The default is 50%, but you can view a close above 40% as a bullish.

Simple moving average can be enabled/disabled as well as the length adjusted.

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