Percent Change in Candle from Open to Close
This gives a quick method of viewing the percentage or actual numerical change in a candle, from open to close, in any time period (this is not max and min on the period, just open and close). Currently, as far as I can see, this function doesn't exist on Tradingview.
I use this as a numerical sign of vigour in a trend and hence it acts as one filter for me on the decision to enter a position. e.g. a rise of 5% is more vigorous than 2%. I might use a filter of no entry if < 2% on the candle in the time period of interest.
I use this as a numerical sign of vigour in a trend and hence it acts as one filter for me on the decision to enter a position. e.g. a rise of 5% is more vigorous than 2%. I might use a filter of no entry if < 2% on the candle in the time period of interest.