The indicator generates a RangeBar Chart based on the ticks received in real time. The history data is generated from the chart to which the indicator is attached. All the candlesticks are of a fixed size from a High to a Low. Unlike Renko, candlesticks may have a wicks that does not exceed the expected range, and the body of the candlestick can be less than or equal to this range. When the price breaks the range of a single candlestick, the indicator generates a series of dummy candlesticks to fill the price gap.
- CandleRange - candlestick range, beyond the range the current candle closes and re-opens
- OfflineChartPeriod - output chart period, can be any non-standard period value
Working with the indicator:
Simply drag the indicator to the base chart, type in the desired range and press the button. The resulting chart will open in a new window with the specified period.
On this chart, you can use any indicators, scripts and Expert Advisors.