This simple but powerful High-Low indicator plots price extremes. Either it’s an exhausting sign or a continuation sign of the trend. The color of the cloud determines the trend, and the height of the peaks determines the strength in the price moves. You can easily compare current peaks with historical ones to understand the current dynamics and what might happen next.
This indicator is a must if you want to understand price dynamics in the market. The indicator is perfect to combine with other indicators to confirm the signal.
Combine it with /Channels/ , you name it! If the indicator peaks in conjunction with that the price reaches a /Channels/ . It's a great sign!
HOW TO USE
1. Look for a signal
2. Identify the color and height of the peak. Compare it to historical ones to get an understanding of the current market dynamics.
3. Combine the indicator with e.g. /Channels/
4. Consider Enter the market.
INDICATOR IN ACTION
I hope you find this indicator useful, and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continue to work on this indicator, so please share your experience and feedback with me so that I can continuously improve it. Thanks to everyone that have contacted me regarding my scripts. Your feedback is valuable for future developments!
ACCESS THE INDICATOR
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Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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My scripts/indicators/ideas are only for educational purposes!
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