Electrified

Local Limit Upper

Displays recent higher and lower highs.

In it's simplicity is a lot more powerful than might appear at first glance.
  • Does not rely on volatility calculation.
  • Can be linked together to create an objective view of recent resistance levels.
  • Makes current trends more visible.
  • Excellent as a trailing stop (short) algorithm.

Can be used with its sibling: Local Limit Lower
Release Notes: Release Notes: Reuse code from Local Limits.
Margin is now implemented properly.
Release Notes: Eliminated buggy bar sensitivity option as the indicator works as intended without it.
Release Notes: Added trend change values for more reliable alerts.

ALERTING:
Simply select the "Change" value and alert on "Greater Than" or "Less Than" zero depending on which direction you want to detect.
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.

Want to use this script on a chart?

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter