OPEN-SOURCE SCRIPT

Spread Percent

This indicator shows the percent change between the highs and the lows (or optionally the open and close) of each candle. You may also set a low and a high percent threshold to better highlight the candles that exceed your desired spread percent. Red signifies low spread, green is high spread - these are unrelated to the color of the candle body. There is also the option to display a moving average of the spread percent at your desired length which is a representation of volatility over time.

This is not only helpful for historical analysis over time, but this can also be a time saver if you are trying to calculate the measured distance of a move. Save clicks - no more needing to use the measuring tool.

The settings of the indicator on the chart above are:
- Measure Candle Body Only? - No
- Highlight Thresholds? - Yes
- Thresholds Based on Moving Averages? - Yes
- Low Percent Threshold - 3.0
- High Percent Threshold - 7.0
- Show Moving Average? - Yes
- Moving Average Length - 5

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