PROTECTED SOURCE SCRIPT
TOMOs Consolidation Indicator using Bar Heights
what this is: This indicator creates an alert (see green arrow) when there are periods of consolidation in the chart. YOU define what consolidation means. It looks at BOTH candle heights (wicks included by default) AND checks the lowest and highest of those candles.
> Number of candles to check: you define how many candles you want to use to calculate consolidation. For instance, if you select 3 candles and you're on a 5-min chart, that's 15 mins of consolidation.
> Max Candle Height: You define what consolidation height or range is considered consolidation to you. So if you put in a value of 15. That means the last X number of candles are examined for whether OR NOT they are at or below that height. If they are, then it checks to see if the lowest and highest point among those candles are within that height as well. IF they are, then you see a green arrow. That is consolidation in this indicator. And you can use it for an alarm.
> the blue shade just means consolidation is continuing BEYOND the green-arrow when it was indicated. It's just a visual indicator. that's it.
> Include Wicks in Candle Height? Maybe you just want the body of the candle and not it's wicks. Your call.
Trigger Starts and stops: hour/min. This is ALL Eastern time (NYSE's time) and NOT your own timezone. You can simply tell the script you ONLY want the trigger alert to happen between the the start and end time. So if you're using it to trigger a trade, maybe you don't want to trigger it too early or late in the day.
Inputs in Status Line: This is tradingview default. I can't remove it.
> Number of candles to check: you define how many candles you want to use to calculate consolidation. For instance, if you select 3 candles and you're on a 5-min chart, that's 15 mins of consolidation.
> Max Candle Height: You define what consolidation height or range is considered consolidation to you. So if you put in a value of 15. That means the last X number of candles are examined for whether OR NOT they are at or below that height. If they are, then it checks to see if the lowest and highest point among those candles are within that height as well. IF they are, then you see a green arrow. That is consolidation in this indicator. And you can use it for an alarm.
> the blue shade just means consolidation is continuing BEYOND the green-arrow when it was indicated. It's just a visual indicator. that's it.
> Include Wicks in Candle Height? Maybe you just want the body of the candle and not it's wicks. Your call.
Trigger Starts and stops: hour/min. This is ALL Eastern time (NYSE's time) and NOT your own timezone. You can simply tell the script you ONLY want the trigger alert to happen between the the start and end time. So if you're using it to trigger a trade, maybe you don't want to trigger it too early or late in the day.
Inputs in Status Line: This is tradingview default. I can't remove it.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.