This script creates a "web" by connecting different points of candles. All configurable by the trader.
There are 4 basic parts to a candle: Open, High, Low, and Close
With this script, you can connect any point of one candle in the past to any point of another current candle. For example: High to High, High to Low, High to Open, High to close Low to High, Low to Low, Low to Open, Low to Close Open to High, Open to Low, Open to Open, Open to Close Close to High, Close to Low, Close to Open, Close to Close
The script will change the line colors based on whether the current plot is higher or lower than the previous plot.
Try out different connection points to see what works for you. Connecting High to High and Low to Low, might easily show you when the market is making higher highs or lower lows, indicating a potential movement. Run it on replay at a higher speed and see how it may potentially help identify area of congestion or trends.
may make a table where you display some stats of the lines, like 60% upwards 40% downwards. sure some pretty stats doable here, may even useable as bull/bear_trend detector
NorthStarDayTrading
⋅
@djmad, Thanks, Not a bad idea. I'm not really sure what this could be used for. But it looks cool on high-speed playback!
sure some pretty stats doable here, may even useable as bull/bear_trend detector