StretchTM is a useful property found on nodes, but it is somewhat hidden. It is particularly useful for bones.
In this video I cover two uses of the StretchTM matrix. I show how you can set up bones to stretch along with another bone, as well as how to change the wirecolor of a bone based on how far it has been stretched.

Thanks Mat! this is much more straightforward than the previous stretchy method with helpers etc.
Thanks Tom! Glad you like it. It does have its limitations, like having to remain on a straight limb, but I find it is a nice quick setup when the situation is right for it.