Indicator: Raschke Compase [xQT5]

This is an indicator from a book "Street Smarts—High Probability Short Term Trading Strategies" by L. Raschke & L.Connors.

I made it in histogram style for more comfortable reading chart:
- green histogram is buy signal or buy opportunity;
- red histogram is sell signal or sell opportunity;
- gray histogram is forward moving from last signal.

Enjoy it!

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


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