OPEN-SOURCE SCRIPT
Hi-Lo Trend Bars
I present to you a simple but useful indicator.
The basic logic is an indicator that tracks the high of the high bars in the specified range and the low of the low bars in the specified range.
I used two multipliers in order to go out of certain ranges and I tried to provide precision by subtracting this multiplier value from the lowest and highest values.
I set the steps of the multipliers to 0.01 so that it is easy to use on instruments that require finer tuning.
Because every instrument has its own dynamics. You should change the multiplier values according to the instrument dynamics.
For example, under Spot, these multiplier values work efficiently with a large multiplier such as 2.0. It is more efficient in the range of 0.1 - 0.2 in the stock market.
I hope your transactions will be of some use in directional evaluation.
Thanks.
The basic logic is an indicator that tracks the high of the high bars in the specified range and the low of the low bars in the specified range.
I used two multipliers in order to go out of certain ranges and I tried to provide precision by subtracting this multiplier value from the lowest and highest values.
I set the steps of the multipliers to 0.01 so that it is easy to use on instruments that require finer tuning.
Because every instrument has its own dynamics. You should change the multiplier values according to the instrument dynamics.
For example, under Spot, these multiplier values work efficiently with a large multiplier such as 2.0. It is more efficient in the range of 0.1 - 0.2 in the stock market.
I hope your transactions will be of some use in directional evaluation.
Thanks.
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这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。