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bkomoroczy

Displacement detector

bkomoroczy Updated   
Candlestick analysis displacement
72
9
candlestickanalysis displacement
This indicator aims to find energetic displacements that cover a higher range than a given threshold value. It shows the start of the displacements and all the ends that satisfy the given parameters. It can also be used to alert in case a displacement is found.
Release Notes:
Removed some unnecessary plots.
Release Notes:
Added "Max counter move", a value that allows smaller candles of the opping direction compared to the displacement's direction to be counted into the displacement's candles. "Max bars in displacement" extended to contain max 12 elements.
Release Notes:
Added a parameter to allow for irregular bars to be counted towards a displacement. The max size of the irregular bars can also be controlled.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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