The "BarChangeDelta" indicator, facilitates the calculation of price delta or percent changes between user-defined start and end points within the current or between preceding and current bars. It offers several customizable options to fit various trading strategies.
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This indicator provides the following key functionalities: - Two Modes: * PreviousToCurrentBarDelta: Compares user-selected start points from the previous bar to the end points of the current bar. * CurrentBarDelta: Compares user-selected start and end points within the current bar. - Start Point/End Point Customization: Allows users to define the source for start and end points used in the delta calculations. - ABS Mode: Option to display only absolute values, reflected on the histogram drawn. - Show delta in percents: Enables users to calculate delta in percentage changes instead of price delta. - Moving Average (MA) Plot: A plot of the MA of the last user-defined number of delta prices or percents.
The "BarChangeDelta" indicator finds practical application in various trading scenarios. It can be particularly useful for assessing daily price changes between open/close or high/low for determining strike prices, especially for 0DTE trading.