Those two indicators look very similar and do very similar job – setting the main parameter of the offline chart generator. Though the offline generator runs on an online timeframe chart (feed chart), these two indicators need to be attached to the target offline chart. While there may be multiple generators attached to the feed chart, the offline chart assignment to the particular generator is unanimous.
The goal of using those indicators is getting clearly defined setting for symbols that differ in volume, price or price dynamics. The idea is simple – indicator takes the related value from another timeframe and applies simple calculation to reveal value suitable for the offline chart, which would make the settings independent on a broker volume, symbol dynamics or price level.
The input parameters are chosen to resemble regular timeframe properties. The user selects a period which he likes the offline chart be close to (a bit simplified), then he plans its regular recalculation.
Input Dialogue for the AutoVolume
Average candle time specifies interval, which you like to have for a single candle in average. It will be calculated from the M1 chart.
Minutes for interval calculation is an interval, which will be taken from the source for calculations.
Minutes to the next refresh is recalculation option, specifying rate of the parameter refresh.
Input Dialogue for AutoRange
Affects only – chart types list. This option is useful only with OmniaBar indicator, when you intend to switch between multiple chart types. You may attach the indicator multiple times, and select different parameters for each chart type. Then the other AutoRange indicators remain inactive, until the chart type matches their entry.
Timeframe for Range calculation – specifies a chart timeframe, that will serve as a source for calculations. It may be any timeframe, including offline timeframes (if active). You should avoid a self-reference though.
Result multiplier – a simple factor to the calculation result for fine range tuning.
Dependency between the timeframe and the range is roughly quadratic, so setting the factor to 2.0 within timeframe H1 gives a very similar result as a factor 1.0 within H4. Factor of 1.4 would be close to H2 range when calculated from H1.
Minutes for calculations – duration (chart lenght), which will be taken as a source for calculations. The most recent period is used.
Refresh daily at – time, when the range update happens. It should happen during a safe period, as changing the entire chart may confuse other indicators and experts!
…and then repeat in intervals – an option, if you want to update the range more than once a day.
Between refreshes, the indicator is inactive, so you may change your parameter by other means meanwhile. The indicator overwrites any data at the next scheduled refresh.