I wrote an indicator to analyse the average rise and fall from an opening price of every candle and to see how often that average rise and fall is broken by the high or low of a candle.

The indicator returns the average rise and fall of every candle as well as the average rise and fall after a red candle or after a green candle. It also returns how often in percentage after a red or green candle that average rise or fall was exceeded in the next candle.

I post it here just in case it is of any interest to someone.

//Average rise and fall breakout analysis
//By Vonasi
//20190822

up = up + (high - open)
down = down + (open - low)
count = count + 1

upave = up/count
downave = down/count

if close[1] < open[1] then
rup = rup + (high - open)
rdown = rdown + (open - low)
rcount = rcount + 1

rupave = rup/rcount
rdownave = rdown/rcount
endif

if close[1] > open[1] then
gup = gup + (high - open)
gdown = gdown + (open - low)
gcount = gcount + 1

gupave = gup/gcount
gdownave = gdown/gcount
endif

if barindex > 1 then
if close[1] < open[1] then
upper = open + rupave[1]
lower = open - rdownave[1]
if high > upper then
rupbreak = rupbreak + 1
endif
if low < lower then
rdownbreak = rdownbreak + 1
endif
rbreakcount = rbreakcount + 1
rbreakupave = (rupbreak/rbreakcount) * 100
rbreakdownave = (rdownbreak/rbreakcount) * 100
endif

if close[1] > open[1] then
upper = open + gupave[1]
lower = open - gdownave[1]
if high > upper then
gupbreak = gupbreak + 1
endif
if low < lower then
gdownbreak = gdownbreak + 1
endif
gbreakcount = gbreakcount + 1
gbreakupave = (gupbreak/gbreakcount) * 100
gbreakdownave = (gdownbreak/gbreakcount) * 100
endif
endif
 
return rbreakupave as "red break up %", gbreakupave as "green break up %", rbreakdownave as "red break down %", gbreakdownave as "green break down %",upave as "Average Rise", downave as "Average Fall", rupave as "Red Average Rise", rdownave as "Red Average Fall", gupave as "Green Average Rise", gdownave as "Green Average Fall"//upper as "upper", lower as "lower"

Screenshot_2-1.png