This indicator calculates and displays the percentage change between the current close price and the previous close price. It provides a clear visual representation of price movements, helping traders quickly identify significant changes in the market.
## Formula The percentage change is calculated using the following formula: ``` Percentage Change = (Current Close - Previous Close) * 100 / Current Close ```
## Features - Displays percentage change as a bar chart - Green bars indicate positive changes - Red bars indicate negative changes - A horizontal line at 0% helps distinguish between positive and negative movements
## How to Use 1. Add the indicator to your chart 2. Observe the bar chart below your main price chart 3. Green bars above the 0% line indicate upward price movements 4. Red bars below the 0% line indicate downward price movements 5. The height of each bar represents the magnitude of the percentage change
This indicator can be particularly useful for: - Identifying sudden price spikes or drops - Analyzing the volatility of an asset - Comparing price movements across different timeframes - Spotting potential entry or exit points based on percentage changes
Customize the indicator's appearance in the settings to suit your charting preferences.
Note: This indicator works on all timeframes, adapting its calculations to the selected chart period.