Measuring Candle Body and High-Low Range with a Smoothed Histogram

Summary

This indicator displays candlestick size as a histogram in a separate chart window. Its calculation can use either the distance between the open and close, which represents the candle body, or the distance between the high and low, which represents the full intraperiod range. These views capture different aspects of price movement: directional candle movement versus total observed movement.

An optional smoothing setting plots an average based on a configurable period and smoothing method. The document lists these controls and refers to examples showing both measurement types with and without smoothing. It does not provide trading rules, performance results, or guidance for selecting parameter values. The histogram is a descriptive price-range tool; its usefulness for a strategy would depend on how it is interpreted and tested in context.

Key ideas

• The histogram can measure either the open-close candle body or the full high-low range.
• The two calculation choices describe different aspects of price movement.
• Smoothing can display an average of the selected candle-size measure.
• The document provides no entry rules, parameter rationale, or performance evidence.

Tags

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