High/Low Difference Indicator
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Greetings!
Is anyone aware of (or can anyone possibly create) a MetaTrader indicator (line type) that displays the average difference between the price low & high over "x" periods? What I'm looking for is something I can use (visually to start, maybe programmatically later) to stay out of trades whenever the rate is not moving enough to allow for the spread + my target. Essentially, a running indicator that tells me something like "the average difference between the highs and lows over the last 14 periods has been 6 pips". So at the time of my intended trade, if my target is to make 5 pips, and my spread is 3 pips, I need at least 8 pips "clearance". Seeing the indicator tell me that the average has only been 6, it's probably not prudent to enter that particular trade right now.
Thanks for your help!!
Scott <
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Scott Sutherland
484 Yorkshire Dr.
Oviedo, FL 32765
ScottPSutherland@gmail.com