OPEN-SOURCE SCRIPT

Failed 2D & Failed 2U Bars

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I created this indicator to plot a triangle when a candle is either 1) a failed 2 down--the candle breaks the low of the prior candle but closes green (or higher than its opening price) and doesn't break the high of the previous candle; and 2) a failed 2 up--high of the prior candle is broken but the bar is red and does not break the low of the prior candle.

It has alerts which you can set up in the alert system.

I think that this candle is one of the most telling and powerful when it comes to candle analysis.

R.I.P. Rob Smith, Creator of The Strat.

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