Hello,
This is my script for H&Ls. I am still working on it.
EDIT: be careful when using it!
It does NOT compare previous H&L levels with those in the making. It can only be used if you hold your positions a long time.
This is my script for H&Ls. I am still working on it.
EDIT: be careful when using it!
It does NOT compare previous H&L levels with those in the making. It can only be used if you hold your positions a long time.
study("Highs & Lows by TaTrader", overlay = true) time = input(title = "Timeframe (minutes)", defval = 240) // Calculate Highs & Lows low_m = lowest(low, 30*240/time) high_m = highest(high, 30*240/time) low_w = lowest(low, 15*240/time) high_w = highest(high, 15*240/time) // Set up Highs & Lows bottom_m = valuewhen(low <= low_m[1], low, 0) top_m = valuewhen(high >= high_m[1], high, 0) bottom_w = valuewhen(low <= low_w[1], low, 0) top_w = valuewhen(high >= high_w[1], high, 0) // Draw Highs & Lows // Important S&R Levels --> extend lines (hline) plot(bottom_m, color=bottom_m != bottom_m[1] ? na : black, style = cross, linewidth = 2, join = true) plot(top_m, color=top_m != top_m[1] ? na : black, style = cross, linewidth = 2, join = true) plot(bottom_w, color=bottom_w != bottom_w[1] ? na : black, style = line, linewidth = 2, join = true) plot(top_w, color=top_w != top_w[1] ? na : black, style = line, linewidth = 2, join = true) // Breakthrough signals plot(bottom_m, color=(close < bottom_m[1]) ? red : na, style = line, linewidth = 2) plot(top_m, color=(close > top_m[1]) ? green : na, style = line, linewidth = 2) plot(bottom_w, color=(close < bottom_w[1]) ? red : na, style = line, linewidth = 2) plot(top_w, color=(close > top_w[1]) ? green : na, style = line, linewidth = 2) plot(top_m, color=(close > top_m[1]) ? green : na, style = line, linewidth = 2) plot(bottom_m, color=(close < bottom_m[1]) ? red : na, style = line, linewidth = 2) plot(top_w, color=(close > top_w[1]) ? green : na, style = line, linewidth = 2) plot(bottom_w, color=(close < bottom_w[1]) ? red : na, style = line, linewidth = 2) // PVT!!! //plot((high_w - low_w) / (high_m[1] - low_m[1]) * rsi(hlc3, 14), color = black, join = true)