Highs/Lows difference [OrganicPunch]

2 Mei 2022

Highs/Lows difference indicator

To visually evaluate the difference between highs and lows of a price range.

This handsome indicator shows:

• difference between highs of 2 candles by displaying it in green histogram
  
• difference between lows of 2 candles by displaying it in red histogram
  
• difference between both highs and lows by displaying a circle at the level of the difference
  

To read the numerical value, point at the circle of the relevant bar you are interested in, and see the scale.

Indicator is useful in creating strategies where you want to filter out consolidations/ranges (or to locate them), e.g. "Open trade when H/L difference is larger than 200", or "Look for candles with H/L difference lesser than 50".
The exact value of needed H/L difference can be found using this indicator.