Static price-range projection by symbol

16 feb

This indicator shows you a predefined range to the right of the last candle of your chart. This range is custom and can be changed for a handful of symbols that you can choose. This scale will help you determining if the market is providing a reasonable range before you enter a trade or if the market isn't actually moving as much as you might think. This is particularly useful if you are into scalping and have to consider commission or spread in your trades.

Since all symbols have different price ranges in which they move this indicator doesn't make sense to just have "a one size fits all" approach. That's why you can choose up to 6 symbols and set the range that you want to have shown for each when you pull it up on the chart. Using my default values that means for when the NQ (Nasdaq future) is on the chart you will see a range of 20 handles projected. When you change the the ES (S&P500 future) you will instead see 5 handles. While the number is different that is somewhat of an equal move in both symbols.
There also is an option to set a default price range for all other symbols that are not selected if it is needed. However the display of the scale on anything else than the 6 selected symbols can also be turned off.

There are options provided on how exactly you want to indicator to determine if the chart symbol matches one of the selected symbols.

1. You can enable it to make sure the exchange/broker is the exact same as selected.
   
2. It can check for only the symbol root to match the selection. Specifically for futures this means that while ES1! might be selected, anything ES (ES1!, ES2!, ESH2025, ESM2025, ESM2022, ...) will be a match to the selection)
   

On the painted scale it is possible to not just show this range extended into each direction once. Per default you will have 3 segments of it in each direction. This can be reduced to just 1 or increased.
If you chose a high number of segments or a large range make sure to use the "Scale price chart only" option on your chart scale to not have the symbols price candles squished together by the charts auto scaling.


And last but not least the indicator options provide some possibilities to change the appearance of the printed price range scale in case you disagree with my design.

18 feb

Note di rilascio

Added a background pattern option

18 feb

Note di rilascio

Change screenshot

18 feb

Note di rilascio

Simplified indicator option view

18 feb

Note di rilascio

Option to choose between using the current live candle or the one before that is already confirmed

18 feb

Note di rilascio

Fixed bug of last release

18 feb

Note di rilascio

improved processing ressource use of indicator