Trend Indicator based on the range of the price
January 4, 2022, 9:06 AM
Indicators
2 Comments
This indicator is based on the range of the price movements and the colored areas might help you to easy identify the trend of the price.
// This indicator is based on the range of price movements and the colored areas might help you
// to easy identify thr trend of the price
ONCE AFR = Close
ONCE i = 0
ONCE j = 0
IF High < AFR THEN
AFR = high
ENDIF
IF Low > AFR THEN
AFR = low
ENDIF
IF Close > AFR THEN
DRAWPOINT(barindex, close, 1)coloured(0,51,255)
DRAWSEGMENT(barindex, high, barindex, low)coloured(0,0,255)
ELSE
DRAWPOINT(barindex, Close, 1)coloured(251,0,255)
DRAWSEGMENT(barindex, high, barindex, low)coloured(255,0,255)
ENDIF
IF AFR < AFR[1] THEN
i = i + 1
AFR2 = AFR[i]
ELSE
i = 0
AFR2 = AFR
ENDIF
IF AFR > AFR[1] THEN
j = j + 1
AFR3 = AFR3[i]
ELSE
j = 0
AFR3 = AFR
ENDIF
RETURN AFR, AFR2, AFR3
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Filename:
Trend-Indicator-based-on-range.itf
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