TradingView
rmunoz
5 feb 2019 15:54

Average Candle Length 

Swiss Franc/Japanese YenFXCM

Beskrivning

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) :)
Kommentarer
Shannon508
Really Awesome. I plugged it in and checked EUR/USD 15min chart and it showed me the most amazing symmetrical hills, coinciding with NYork.
GrantShuttleworth
Hi, thanks for the script. Whats the purpose of the multiplier?
MikeInTheMarket
@GrantShuttleworth, looks like he scaled the results to more reasonable value ranges
anubhavexternal
For eth/busd, it shows values in ~10K range while the actual movement is just around 100$
Jonathan_Brenneman
It would be nice to be able to set it to show the average candle body size instead of just wicks...
Mer