Consecutive Lower Highs/Higher Lows

7 giorni fa

This indicator is a minimalist price-action tool designed to visualize Pullback depth and Trend Ignition directly on the chart. It eliminates the need to manually count candles, helping traders instantly identify "Green 2" pullback setups and "Red 1" trend continuations.

This tool is specifically designed to synchronize with MarketInOut or Finviz scanners that look for Lower Highs (Pullbacks) and Higher Lows (Trend).

How It Works
The indicator prints a simple count above or below the candles to visualize the current market structure:

1. The "Trap" / Pullback Count (Green Numbers)

Logic: Counts consecutive bars with Lower Highs.

Location: Appears above the candle.

Usage: Used to identify low-risk entry points in an existing uptrend. When you see a Green "2" or "3", it confirms the stock is in a controlled pullback (a "Quiet Trap") and may be ready for an entry if it breaks the previous high.

Default Setting: Starts counting at 2 (The classic "Green 2" setup).

2. The "Ignition" / Trend Count (Red Numbers)

Logic: Counts consecutive bars with Higher Lows.

Location: Appears below the candle.

Usage: Used to visualize trend strength. A Red "1" indicates the stock has made a higher low and is potentially resuming its uptrend ("Ignition"). It can also be used to manage trailing stops by exiting if the streak is broken.

Default Setting: Starts counting at 1.

Key Features
Zero Clutter: No moving averages, lines, or background shapes. Only the raw data you need to make a decision.

Dynamic Labels: Labels automatically adjust their distance from the candle based on volatility (ATR), ensuring they never overlap with the price action.

Scanner Sync: The input settings allow you to match the "Minimum Count" exactly to your screener settings (e.g., set Pullback minimum to 2 to match a lower_highs 2 scan).

Max History: Hard-coded to display the maximum allowable history (500 bars) for effective backtesting of your eye.

Settings
Minimum lower highs (Trap): Sets the threshold for showing Green numbers. (Default: 2)

Minimum higher lows (Ignition): Sets the threshold for showing Red numbers. (Default: 1)

Show Numbers: Toggles the visibility of the text labels.

Strategy Application
This script is ideal for Momentum Trap and Breakout traders (e.g., Minervini, Qullamaggie styles) who need to quickly verify if a stock meets the "2-day pullback" or "Trend Resume" criteria without manually checking High/Low values.

7 giorni fa

Note di rilascio

This indicator is a minimalist price-action tool designed to visualize Pullback depth and Trend Ignition directly on the chart. It eliminates the need to manually count candles, helping traders instantly identify "Green 2" pullback setups and "Red 1" trend continuations.

How It Works
The indicator prints a simple count above or below the candles to visualize the current market structure:

1. The "Trap" / Pullback Count (Green Numbers)

Logic: Counts consecutive bars with Lower Highs.

Location: Appears above the candle.

Usage: Used to identify low-risk entry points in an existing uptrend. When you see a Green "2" or "3", it confirms the stock is in a controlled pullback (a "Quiet Trap") and may be ready for an entry if it breaks the previous high.

Default Setting: Starts counting at 2 (The classic "Green 2" setup).

2. The "Ignition" / Trend Count (Red Numbers)

Logic: Counts consecutive bars with Higher Lows.

Location: Appears below the candle.

Usage: Used to visualize trend strength. A Red "1" indicates the stock has made a higher low and is potentially resuming its uptrend ("Ignition"). It can also be used to manage trailing stops by exiting if the streak is broken.

Default Setting: Starts counting at 1.

Key Features
Zero Clutter: No moving averages, lines, or background shapes. Only the raw data you need to make a decision.

Dynamic Labels: Labels automatically adjust their distance from the candle based on volatility (ATR), ensuring they never overlap with the price action.

Scanner Sync: The input settings allow you to match the "Minimum Count" exactly to your screener settings (e.g., set Pullback minimum to 2 to match a lower_highs 2 scan).

Max History: Hard-coded to display the maximum allowable history (500 bars) for effective backtesting of your eye.

Settings
Minimum lower highs (Trap): Sets the threshold for showing Green numbers. (Default: 2)

Minimum higher lows (Ignition): Sets the threshold for showing Red numbers. (Default: 1)

Show Numbers: Toggles the visibility of the text labels.

Strategy Application
This script is ideal for Momentum Trap and Breakout traders (e.g., Minervini, Qullamaggie styles) who need to quickly verify if a stock meets the "2-day pullback" or "Trend Resume" criteria without manually checking High/Low values.

7 giorni fa

Note di rilascio

This indicator is a minimalist price-action tool designed to visualize Pullback depth and Trend Ignition directly on the chart. It eliminates the need to manually count candles, helping traders instantly identify "Green 2" pullback setups and "Red 1" trend continuations.

This tool is specifically designed to synchronize with scanners that look for Lower Highs (Pullbacks) and Higher Lows (Trend).

How It Works
The indicator prints a simple count above or below the candles to visualize the current market structure:

1. The "Trap" / Pullback Count (Green Numbers)

Logic: Counts consecutive bars with Lower Highs.

Location: Appears above the candle.

Usage: Used to identify low-risk entry points in an existing uptrend. When you see a Green "2" or "3", it confirms the stock is in a controlled pullback (a "Quiet Trap") and may be ready for an entry if it breaks the previous high.

Default Setting: Starts counting at 2 (The classic "Green 2" setup).

2. The "Ignition" / Trend Count (Red Numbers)

Logic: Counts consecutive bars with Higher Lows.

Location: Appears below the candle.

Usage: Used to visualize trend strength. A Red "1" indicates the stock has made a higher low and is potentially resuming its uptrend ("Ignition"). It can also be used to manage trailing stops by exiting if the streak is broken.

Default Setting: Starts counting at 1.

Key Features
Zero Clutter: No moving averages, lines, or background shapes. Only the raw data you need to make a decision.

Dynamic Labels: Labels automatically adjust their distance from the candle based on volatility (ATR), ensuring they never overlap with the price action.

Scanner Sync: The input settings allow you to match the "Minimum Count" exactly to your screener settings (e.g., set Pullback minimum to 2 to match a lower_highs 2 scan).

Max History: Hard-coded to display the maximum allowable history (500 bars) for effective backtesting of your eye.

Settings
Minimum lower highs (Trap): Sets the threshold for showing Green numbers. (Default: 2)

Minimum higher lows (Ignition): Sets the threshold for showing Red numbers. (Default: 1)

Show Numbers: Toggles the visibility of the text labels.

Strategy Application
This script is ideal for Momentum Trap and Breakout traders (e.g., Minervini, Qullamaggie styles) who need to quickly verify if a stock meets the "2-day pullback" or "Trend Resume" criteria without manually checking High/Low values.