## Stretch Indicator

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### Stretch Indicator

Hi there dear friend apprentice, here is a simple indi that might be useful for taking trades called ORB (opening range breakout). For that we need to know the stretch, which is defined as follows:

"The stretch is determined by looking at the previous ten days and averaging the sums of the differences between the open for each day and the closest extreme to the open on each day".

What I understand by that is that first we calculate the difference between the open and the closest extreme to the open (which will be the high or the low of the day). Do that for 10 days. Sum the result from all 10 days then divide by 10.

The indi could be just a text in the corner of the screen saying Stretch: 20 for example.If we could drag it around, better.

If you think it is possible, thanks! I am sending you the book via PM.

Cheers!
Attachments
logicgate
FXCodeBase: Initiate

Posts: 143
Joined: Tue Dec 11, 2018 7:54 am

### Re: Stretch Indicator

Try this version.
viewtopic.php?f=17&t=67220
Is calculated as max of (abs(high-open) and abs(low-open))
This Data is then averaged.

Apprentice
FXCodeBase: Confirmed User

Posts: 20393
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

### Re: Stretch Indicator

Apprentice wrote:Try this version.
viewtopic.php?f=17&t=67220
Is calculated as max of (abs(high-open) and abs(low-open))
This Data is then averaged.

Thanks for the lightning fast response. I am sorry but forgot to mention that it is for MT4, my friend.

Just wanted to tell you, I really don't need to see the indicator window or a plotted line, as I will follow the instructions of the book, I am just interested in seeing the Stretch value as intended by the author, so 10 days. It is just a numerical value we are interested in, no graphs. If you could be so kind to compile a MT4 version with no indicator window, just a text in the corner of the screen saying "Stretch: 20" for example, that we could drag and place wherever we want, it would suffice. Of course, if you wish to leave one option on the indicator so we can put how many days to look back (default being 10) it will give room to more experimenting.

Thanks!
logicgate
FXCodeBase: Initiate

Posts: 143
Joined: Tue Dec 11, 2018 7:54 am

### Re: Stretch Indicator

Your request is added to the development list under Id Number 4393

Apprentice
FXCodeBase: Confirmed User

Posts: 20393
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

### Re: Stretch Indicator

MQ4/MT4 version.
viewtopic.php?f=38&t=67235
Will add label only in the next few days.

Apprentice
FXCodeBase: Confirmed User

Posts: 20393
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

### Re: Stretch Indicator

Apprentice wrote:MQ4/MT4 version.
viewtopic.php?f=38&t=67235
Will add label only in the next few days.

Thanks brother!

Sorry, but what do you mean by label? You mean doing it like I asked in my request post?
logicgate
FXCodeBase: Initiate

Posts: 143
Joined: Tue Dec 11, 2018 7:54 am

### Re: Stretch Indicator

Yes.

Apprentice
FXCodeBase: Confirmed User

Posts: 20393
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia