Closing Range

Indicator shows the closing range of each bar. Closing range is where the bar closes (high - close) relative to the length of the wick (high - low). A close at the top of the wick would be 100%, middle 50%, bottom 0%.

In addition, the indicator multiplies closing range by volume to weight toward high volume days.

A simple moving average is applied to visualize trend in volume-weighted closing range over time.

Options include changing the threshold of bullish closes. The default is 50%, but you can view a close above 40% as a bullish.

Simple moving average can be enabled/disabled as well as the length adjusted.