Average Bar Time Indicator
What is Average Bar Time?
There are quite a few traders who like to use non-time based charts (such as Tick, Volume, Range, and Renko). While these chart types provide some benefits, the drawback is that you lose reference of price movement in relation to time. This indicator is designed to provide the trader with that important reference of price movement versus time, and time relative to previous bars.
That's all great, but how is it used?
Having the Average Bar Time indicator on your chart provides a couple of benefits:
- Provides information on if price movement is speeding up or slowing down.
- Clearly shows areas where price is being contested and is stalled.
- Can display the information as text or a plot.
Two separate versions of the indicator are provided to either show the data as text on the price chart or show the information as a plot in its own panel. The trader can also input notes that they want to show on the screen as reminders.
Breakdown of the Average Bar Time Settings (Text Version)
Breakdown of the Average Bar Time Settings (Plot Version)
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