Auto Scale Indicator

I received enough emails that I think it is a good idea to just post the indicator here.

Many users have asked what is this Auto Scale indicator that shows up in the Weekly Outlook section at daytradingbias.com

It is not a big complex indicator at all. It is designed for use on charts that are not updating in real-time.

First it is a formula indicator.

Second it employs 2 tricks – one technical and one visual.

The technical one is that the whole indicator has no valid plot value until the very last bar. At the very last bar, I used the highest and lowest value in range and expanded that by a percentage (with parameter control) to get proper scaling.

As I already know how many bars I am going to show in the screenshot, it will work fine for the job.

In fact, it will work fine for those of you interested in auto posting charts from NeoTicker to any website.

The visual technique is simply using the dot style to plot the only set of valid values at the last bar in the background color of your choice. That way they disappear from the chart.

AutoScale Indicator

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