close up (greeen) OR close down (red) build 5

282 0 41
IF current close > previous close then
Indicator Value = +1, color = greeen,
ELSE Indicator Value = -1, color = red

Indicator tells me
* The trend is up if more green dots in a row, one after another
* How many dots in a row close were up or down.
* If alternating dots then ex one dot red one dot green, neither up or down is strong, there is a battle, Reverse should come.

I dont know If there is more info that can be extracted by studying dots patterns. Please suggest me more ideas. The idea is new and I would like to make it better.


Remove from Favorite Scripts Add to Favorite Scripts
// strength of trend the more dots in row
// by gerasimos mouzakitis
// build 5 27 Sep 2015
study("close up (greeen) OR close down (red)")
s1 = close > close[1] ? 1 : -1
c = s1 == 1 ? green : red
plot(s1, style = circles, linewidth = 3, color = c)
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