OPEN-SOURCE SCRIPT
Rabbit Hole
How deep is the Rabbit hole? Interesting experiment that finds the RISING HIGHS and FALLING LOWS and place the difference between the highs and lows into separate arrays.
== Calculations ==
In case current high is higher than previous high, we calculate the value by subtracting the current highest high with the previous High (lowest high) into array A,
same method for the lows just in Array B.
Since we subtract highs and lows it means velocity is taken into consideration with the plotting.
After adding a new value we remove the oldest value if the array is bigger than the Look back length. This is done for both lows and highs array.
Afterwards we sum up the lows and highs array (separately) and plot them separately, We can also smooth them a bit with Moving averages like HMA, JMA, KAMA and more.
== RULES ==
When High Lines crosses the Low Line we get a GREEN tunnel.
When Low Lines crosses the High line we get the RED tunnel.
The Greenish the stronger the up trend.
The Redish the stronger the downtrend.
== NOTES ==
Bars are not colored by default.
Better for higher time frames, 1 hour and above.
Enjoy and like if you like!
Follow up for new scripts: tradingview.com/u/dman103/
== Calculations ==
In case current high is higher than previous high, we calculate the value by subtracting the current highest high with the previous High (lowest high) into array A,
same method for the lows just in Array B.
Since we subtract highs and lows it means velocity is taken into consideration with the plotting.
After adding a new value we remove the oldest value if the array is bigger than the Look back length. This is done for both lows and highs array.
Afterwards we sum up the lows and highs array (separately) and plot them separately, We can also smooth them a bit with Moving averages like HMA, JMA, KAMA and more.
== RULES ==
When High Lines crosses the Low Line we get a GREEN tunnel.
When Low Lines crosses the High line we get the RED tunnel.
The Greenish the stronger the up trend.
The Redish the stronger the downtrend.
== NOTES ==
Bars are not colored by default.
Better for higher time frames, 1 hour and above.
Enjoy and like if you like!
Follow up for new scripts: tradingview.com/u/dman103/
Script open-source
In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.
Vuoi usare questo script sui tuoi grafici?
Appreciation of my work: paypal.me/dman103
Premium Pivot Points Algo Indicator: tradingview.com/script/LFBaHNuA-Pivot-Points-Algo/
LIVE Stream - Pivot Points Algo: youtube.com/channel/UCFyqab-i0xb2jf-c18ufH0A/live
Premium Pivot Points Algo Indicator: tradingview.com/script/LFBaHNuA-Pivot-Points-Algo/
LIVE Stream - Pivot Points Algo: youtube.com/channel/UCFyqab-i0xb2jf-c18ufH0A/live
Declinazione di responsabilità
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