FXCloud

Triple Switch

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Closely follows the lows or highs of a position while waiting for confirmed reversals by candle close
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study("Triple Switch", overlay=true)
WTC=input(true,title="Wait Until Close",type=bool)
Pips=input(0.0020,title="Close Past", minval=0.00001)
Longsource= WTC?close:low
Shortsource= WTC?close:high
Longstart= iff(high>=highest(high,2),lowest(low,2),Longstart[1])
Shortstart= iff(low<=lowest(low,2),highest(high,2),Shortstart[1])
Switchtolong=iff ((Shortsource-Pips)>=Shortstart and (Shortsource-Pips)[1]<Shortstart[1] , 1 ,  0)
Switchtoshort=iff ((Longsource+Pips)<=Longstart and (Longsource+Pips)[1]>Longstart[1] ,  1 ,  0)
direction= iff (na(direction[1]), 0, 
            iff (direction[1]<=0 and Switchtolong, 1, 
            iff (direction[1]>=0 and Switchtoshort, -1, direction[1])))
Tripleswitch= direction>0?Longstart:Shortstart
plot(Tripleswitch, color=direction>0?green:red, style=line, linewidth=2)
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