Outsidebar indicator
September 27, 2017, 2:51 PM
Indicators
3 Comments
A very simple indicator drawing an arrow up/below an bullish/bearish outsidebar. You can adapt the height of the signal candle in the setting.
//SignalbarHeight=5
if range>=SignalbarHeight*pipsize then
if high>high[1] and close<low[1] then
bear=1
bull=0
elsif low<low[1] and close>high[1] then
bull=1
bear=0
else
bear=0
bull=0
endif
else
bear=0
bull=0
endif
offset=AverageTrueRange[14](close)*2
if bear then
DRAWARROWDOWN(barindex, high+offset) coloured(255,0,0)
elsif bull then
DRAWARROWUP(barindex, low-offset) coloured(0,255,0)
endif
return
Download
Filename:
OutsideBar-1.itf
Downloads:
276
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