Displays "spike days" by colouring the bars (Default: yellow for a Spike High and blue for a Spike Low)
Spike Day's definition taken from Jack D Schwager's Book: A Complete Guide to the Futures Market: Technical Analysis, Trading Systems, Fundamental Analysis, Options, Spreads, and Trading Principles
A spike is:
A wide difference between the spike high and...
This is a script for a view I wanted to go along with the Autoview plugin I bought. Keep in mind this is my first script and was created for me to learn the Pinescript framework. This isn't meant to be perfect. Indicator colors are usually blue or green or red. Also keep in mind since this is my first script in a new framework, the more stuff I build the better...
Search indicators for "clouded" to find this one, and add to your chart.
Takes lowest(min) and highest(max) of several bars,
averages that over several bars,
shifts by half of the middle of those two bar numbers,
and colors the inbetween by candle color.
You can choose 3 parameters.
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This startegy based on 3-day pattern reversal described in "Are Three-Bar
Patterns Reliable For Stocks" article by Thomas Bulkowski, presented in
January,2000 issue of Stocks&Commodities magazine.
That pattern conforms to the following rules:
- It uses daily prices, not intraday or weekly prices;
- The middle day of the three-day...