This is a tracking tool to measure two different kinds of distances: - Gaps, from the open/close or the high/low value to the nearest open/close or high/low value. - Price extensions of one or two candles from a preferred starting point (open, high, low or close) to a final point (open, high, low or close). The two-candles mode includes an optional rectangle to help you visualize the first and the last point of the measurement.
The script will plot a label with a percentage when the extension reaches the value you set. Unless you choose to track the one-candle price extension, the label will always be displayed on the high/low value of the second candle.
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Update:
1) On intraday charts, now you can choose to view labels/boxes within a specific time range only.
2) Cleaned, simplified and improved the overall appearance of the code.
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Update:
1) In the "Price" section, you can now set the number of candles to count and the maximum number of candles to be framed by boxes.
2) Cleaned the code.
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(I'm sorry, there was an error with the publication of the chart)
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UPDATE:
Now you can choose to measure the extension in percentage, price, or ticks. On any financial instrument, the script will reproduce the same value as the one calculated by TradingView's Price Range.
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UPDATE:
1) You now have the flexibility to display extensions in a single direction of your choice.
2) To visually represent the direction of the extension, two distinct colors are at your disposal.
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UPDATE
Added the option to view the extension on daily charts on earnings days only, in order to study the historical performance of stock titles.