Alex: ConsUD Alert indicator by BacktestRookies

trendanalysis renko renkobars consecutive updown

Custom strategy that was developed for a Backtest-Rookies development service customer. Published for verification, testing and acceptance.

If you are interested in development services send me a message or visit the backtest-rookies (.com) webiste for more information

Consecutive Up/Down Days - Custom Indicator

The indicator builds upon the built-in consecutive up/down days strategy script but with some additional features:

The strategy has been converted to an indicator
Alerts have been added for entries
Position Simulation: Entry signals only happen once per long / short direction.
Plot real high / low candle data (the script is assumed to run on Renko candles)
Plot real simulated entry price at the open of the bar following an entry signal
Plot an EMA

Release Notes:

Update:

Change default line width
Change color schemes to fit better on a dark theme.

Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact BacktestRookies for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Community Scripts.

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.

Want to use this script on a chart?

Warning: please read before requesting access.