This indicator highlights the 20th bar from the current bar and has the below applications for trading the HG Scalpius system: - Determining if trend mode off switch is triggered, failing to set a new higher (lower) close in the trend with 20 bars - Determining the highest (lowest) bar in the previous range to decide if a trade is high & tight
Great idea. I think some others would be a touch of the BB, and maybe qualified by being a touch and lower/higher than the previous candle.
Hammer and shooting stars highlighted would take guess work away too.
NewMeridian
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@richkh, Second this.. might be possible to code an indicator that identifies confirming evidence conditions for 5+10m charts. Maybe an overlay that can activate when we have BB, Touch, Trend/Pback Walk or D.Vol conditions