Range Forecast H1

The indicator displays the actual range of the hourly candle in percent and the calculated range based on average statistics.

Indicator parameters:

Averaging Period – averaging period for calculating the relative range indicator.
Number Of Bars For Statistics – number of bars in history for collecting average statistics data for a trading instrument.
Shifting Start Of Statistics Calculation – shift from which bar to start collecting statistics so that the readings do not affect the last N data.

Histogram Size – histogram bar size (actual range).
Line Size – line size (forecast range).

Histogram Color – histogram color.
Line Color – line color.

How to understand the indicator readings:

1. Histogram bars display the actual range of the H1 candle as a percentage (%).

2. Line is the calculated value of the H1 candle range as a percentage (%) based on the average statistics.

!!! The indicator works only on the H1 chart period.