The "Candle Pips" indicator is a tool that helps us a quick way to see the size of the candles on our platform; this is not only of great help to any trader who wants to study the market thoroughly, it is helpful in various strategies that are based on size of the candles.
The indicator shows the value in Pips of each candle to our current graph, rounded to an integer.
It has only three simple inputs:
- Candle Type: this entry allows you to select which part of the Candle we want to measure. If you select "High__Low" will give us the full value of the candle, the distance between the maximum and minimum of each of the candles. If you select "Open__Close" We give only the value of the candle body, excluding the Wicks.
- Candles_to_Count: When you edit this value, change the number of bars to which we will measure the size of the candle.
- Color_Values: in this entry, change the color with which the measurement result of each candle will be shown, in this way do not have to change your template.
- Pos: With this option we allow the setting of a second indicator "candle Pips" in the same graph, and thus see the 2 options price "High__Low" and "Open__Close", the default is 0, the setting of a new indicator it should have as value 1.
- DECIMAL: This option select whether or not to (True, False), see the measurement result to an integer digit, approximate, or see the most actual result, with the decimal digit.
The indicator also is accompanied by a box on
the top left of the graph which pressing there the data is updated;
very useful when results are possibly misplaced.
the "POS" option is added and thus can add a new indicator on the chart, and thus have the prices of "High_Low" and "Open_Close".
the "DIGIT" option is added and thus the option to view the result as an integer, or a decimal