## Do not believe in magic numbers, set the proper value

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 calculations 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 the AutoRange*

Select timeframe for Calculation specifies a chart, that will serve as source for calculations. It may be any timeframe, including offline timeframe. You should avoid a self-reference though.

Range Factor is a simple multiplier to the calculation result. For the range calculations, the dependency between the timeframe and range is roughly quadratic, so setting the factor to 2.0 with timeframe H1 gives similar result as factor 1.0 with H4.

Minutes for calculations 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.

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.

Norbert SchweglerFebruary 25, 2019 at 9:05 amHave you some examples of range calculation, your calc I did not anderstand