lvturner

Porcupine

Displays "spike days" by colouring the bars (Default: yellow for a Spike High and blue for a Spike Low)

Spike Day's definition taken from Jack D Schwager's Book: A Complete Guide to the Futures Market: Technical Analysis , Trading Systems, Fundamental Analysis , Options, Spreads, and Trading Principles


A spike is:
  • A wide difference between the spike high and the highs of the preceding and succeeding days.
  • A close near the low of the day's range.
  • A substantial price advance preceding the spike's formation.


The more extreme each of these conditions, the greater the likelihood that a spike high will prove to be an important relative high or even a major top.

(inverse is true for lows, basically)


Enjoy!
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can I use it for intraday trading?
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Hi @lvturner Thanks for sharing this. Does it repaint? If prices go higher and higher in later stage, the previous yellow candle would be wiped off?

Thanks.
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@TY19 No, as far as I recall it should not do this
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Interesting, Thanks for your efforts =D
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@ICEKI, You're welcome! The book is well worth a read btw, regardless of the asset classes you trade!
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