DYO: Range Channel

Question:

Please could you tell me if there is a possibility of measuring the height of a price bar (vertically, say the bar is 3 points in height) and then adding/drawing a line that is half the vertical height to the closing price, thus projecting 1.5 points from closing price horizontally in to the future? 

Answer:

I think the following DYO is doing what you have in mind.   I also added a 2nd line where the half range is subtracted from the close price, and thus you have a channel whose width is one range.