Outsidebar Indicator V2.0
October 16, 2017, 4:13 PM
Indicators
8 Comments
Because several persons were asking for it here an update version of the outsidebar indicator now showing a channel after an outsidebar occurred until the channel is breached by the close of a bar.
if range>=SignalbarHeight*pipsize then
if high>high[1] and low<low[1] and close<open then
bear=1
bull=0
T=high
Bo=low
elsif low<low[1] and high>high[1] and close>open then
bull=1
bear=0
T=high
Bo=low
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)
r=255
g=0
b=0
elsif bull then
DRAWARROWUP(barindex, low-offset) coloured(0,255,0)
r=0
g=255
b=0
endif
if T>0 and close>T then
T=0
Bo=0
elsif Bo>0 and close<B then
T=0
Bo=0
endif
return T coloured(r,g,b) as "Top", Bo coloured(r,g,b) as "Bottom"
Download
Filename:
OutsideBar-2.0.itf
Downloads:
295
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