The script has four main input parameters.
- Random Number Generator Method: It supports two methods for generating the pseudo-random numbers ( one by Ricardo Santos and one by Wichmann-Hill).
- Seed: You can specify the seed to use. Each unique seed will generate a unique set of pseudo-random data.
- Intrabar Volatility: This basically sets how volatile the generated wicks will be (0 = no wicks).
- Price Multiplier: This is just a multiplier for the generated price data, so that you can scale up or down the generated price data.
You can also change the colors of the bars.
In addition to this, the indicator also generates random . In order to make it possible to show both and price, you need to have two identical instances of the indicator. One on the chart, and one in its own panel. Then, go into the Style tab in the indicator settings on the instance in the panel. Untick Up-Candles and Down-Candles boxes, and tick the Volume box.
In a similar manner, you can also plot the true range data and the candle change data as well, by ticking one of those boxes instead.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
In the name of all TradingViewers, thank you for your valuable contribution to the community, and congrats!