[RG9]BarsSinceHighLow

This indicators shows the number of bars since a higher than current high price and a lower than current low price.

The bars since a higher high is shown in red, as high values for this number can indicate a bearish reversal.

The bars since a lower lower is shown in green, as high values for this number can indicate a bullish reversal.

If there could be no higher high or lower low found in the search window, the value will be 0.

The inputs are the max number of bars back in the search window and the min number of bars back in the search window.

The min number parameter can be useful for removing noise from the last couple of bars.

The max number parameter can be useful for getting a bigger picture of the high and low data, but also drowns out shorter time frame data.

This indicator is useful for finding bottoms and tops, and can be used to catch reversals or identify pullbacks in order to buy a dip.