Price Movement

7 lis 2020

Price indicator that shows the trend based on price movement.
The indicator determinants when an asset price is getting higher or lower by comparing the previous price highs and lows to the current price.

==Explanation==
In case current HL2 [(High +Low)/2] exceeds the previous HL2 HIGH then the columns will turn green.
In case current HL2 fails the previous HL2 LOW then the columns will turn red.
The trick here is that the trend CONTINUES to show the greens and reds, until a reversal happens to the opposite side.
This can be used to determinate trends and reversals.
Note: Bar colors are disabled by default.
You can set the lookback period at the indicator settings as well as the asset source (HL2,CLOSE, etc..). default is HL2
Quote that i like: “It is impossible to produce superior performance unless you do something different from the majority.” – John Templeton

Enjoy and like if you like :)

7 lis 2020

Informacje o Wersji

Minor update in conditions. (removed equal)

10 lis 2020

Informacje o Wersji

Added support for HIGHER time frame while default is current time frame.

11 lis 2020

Informacje o Wersji

Added Signals in case you want to attach 'Price Movement' indicator into a another indicator. 1 for long, -1 for short.
'Close' is now default source input (of course you can change to HL2 or others).
Length was changed to 13 from 17.

11 lis 2020

Informacje o Wersji

Minor fix for additional indicator signals.

18 lis 2020

Informacje o Wersji

Changed how Higher time frame is calculated.

18 lis 2020

Informacje o Wersji

Minor clean up.

28 lis 2020

Informacje o Wersji

FIX: Added High source and Low source.
Updated indicator description in script.
You can change 'High Source' and 'Low Source' to different values, like both HL2.