It measures the length of the selected movements in pips.
It is intended to measure the average typical motion that suggests the expected size after the motion signal.
Often the market is moving in one direction about the movements of the same length (if such a pattern is now present). By measuring the length of these motions, it is possible to understand how many points will be roughly estimated movement after signal.
This will provide information on the ratio of the size of the foot to the possible profit and will not open a position with a known small expected return.
Or if the movement is already underway, comparing it with the size of the typical movements (as is now usually the price goes), we can assume the point where it is more logical to close a position as possible: pullback / correction / reversal.
As well, this indicator can be useful if you need to measure the length of any movement or length of a large number of movements and see the information on the monitor.
- Move_to_create_buttons – the color of the text that specifies where to create the button.
- BUTTON_OFF – color buttons.
- BUTTON_ON – the color of the buttons pressed.
- background_BUTTON – background buttons (by default the same as the background graphics).
- Line – color measuring line.
- Line_Style – measuring line style.
- Text_Down – color of the text to move down.
- Text_Up – text color for upward movement.
- Font_Size – font size, indicating the points.
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