Average Candle Range

שלשום

This indicator calculates and displays the average trading range of candles over a specified period, helping traders identify volatility patterns and potential trading opportunities.

Features:
- Customizable lookback period (1-500 bars)
- Clean visual display in a top-right table overlay
- High-precision calculation showing 10 decimal places
- Real-time updates with each new bar

How it Works:
The indicator calculates the range of each candle (High - Low) and then computes the Simple Moving Average (SMA) of these ranges over your specified lookback period. The result is displayed in an easy-to-read table overlay.

Use Cases:
- Volatility Analysis: Monitor market volatility trends
- Position Sizing: Help determine position sizes based on average price movements
- Trading Strategy Development: Use as a reference for setting stop losses and take profits
- Market Phase Identification: Help identify high vs low volatility market phases

Settings:
- Lookback Period: Default is 140 bars, adjustable from 1 to 500

Note:
The indicator displays values with 10 decimal places for high-precision analysis, particularly useful in markets with small price movements.