A Candle-Size Alert Based on Price Range or Open-to-Ask Movement

Summary

This trading utility sounds an alert when a candle exceeds a user-selected size threshold. Its measurement can use either the distance from the candle open to the current ask or the full high-to-low range. Users can choose the timeframe independently of the chart currently displayed, set the threshold in points, select a sound file, and optionally enable a pop-up alert.

The description presents an alerting tool rather than a trading strategy: it signals that a price-movement threshold has been crossed but does not specify a buy or sell direction, position sizing, or risk controls. It offers no performance evidence or guidance for choosing a threshold. Results may depend on the selected measurement, timeframe, symbol, and the stage of the candle when the alert is evaluated.

Key ideas

• The alert activates when candle size passes a user-defined threshold in points.
• Candle size can be measured as ask price minus open or as high minus low.
• The timeframe can be selected independently of the chart timeframe.
• The tool provides sound and optional pop-up notifications but does not define trade direction or risk management.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.