# COUNT CS & LNG TAILS

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This indicator takes a cumulative look at the "Closing Score X Volume Wigi," indicator (Shown below the CSxVol). It simply determines if the relationship of the close was close to the High or the Low of the day and provides you with a ten day running total. You are allowed to adjust how close those parameters must be in order to be counted. The default is 10 for the low and 90 for the high. Here again, you have an additional tool that provides you with the current sentiment, but just as importantly, how that sentiment is transitioning over time.

The blue columns indicate trading days that produced long tails and again provides you with a ten day running total. Because most institutional and all program trades are designed to be executed with a specific price range, when retail traders' orders are filled outside of these parameters the only orders remaining to fuel the market are orders who's prices are bracketed and thus will revert the trading range back into this channel producing a long tail in those trading days. Of course, there are other circumstances that can cause long tails, but when you see a series of days that all have long tails and the price trend is not changing dramatically combined with approximately equal trading volume for those days, you are in all probability seeing institutional and / or programed trades. You want to see this indicator above 8 before it is meaningful in my experience.

This is a very good thing to see if you are looking for stocks about to make a dramatic move and more often than not it will be to the upside.

White columns are indicating the occurrence of a Doji for that trading day.
```study(title="CS & L-TAILS CNT")
// • CONSTANTS
C = (close), H = (high), L = (low), O = (open), V = (volume)
// • INPUTS
LOT  = input (.85,      title = "Enter Length of Tails to be Counted?")
CSLR  = input (10,    title = "Enter Relationship of Close to Low?")
CSHR  = input (90,     title = "Enter Relationship of Close to High?")
CS100  = (((C-L) / (H-L) *100))             // CLOSING SCORE CALCULATION 0 - 100
// • COUNT LONG TAILS
CLT10=((((O[0] >= H[0] - LOT * (H[0] - L[0])) and (C[0] >= H[0] - LOT * (H[0] - L[0])))+
((O[1] >= H[1] - LOT * (H[1] - L[1])) and (C[1] >= H[1] - LOT * (H[1] - L[1])))+
((O[2] >= H[2] - LOT * (H[2] - L[2])) and (C[2] >= H[2] - LOT * (H[2] - L[2])))+
((O[3] >= H[3] - LOT * (H[3] - L[3])) and (C[3] >= H[3] - LOT * (H[3] - L[3])))+
((O[4] >= H[4] - LOT * (H[4] - L[4])) and (C[4] >= H[4] - LOT * (H[4] - L[4])))+
((O[5] >= H[5] - LOT * (H[5] - L[5])) and (C[5] >= H[5] - LOT * (H[5] - L[5])))+
((O[6] >= H[6] - LOT * (H[6] - L[6])) and (C[6] >= H[6] - LOT * (H[6] - L[6])))+
((O[7] >= H[7] - LOT * (H[7] - L[7])) and (C[7] >= H[7] - LOT * (H[7] - L[7])))+
((O[8] >= H[8] - LOT * (H[8] - L[8])) and (C[8] >= H[1] - LOT * (H[8] - L[8])))+
((O[9] >= H[9] - LOT * (H[9] - L[9])) and (C[9] >= H[9] - LOT * (H[9] - L[9]))))*1)
// • COUNT CS LOW
CSLO10 = abs((CS100[0] <= CSLR) +
(CS100[1] <= CSLR) +
(CS100[2] <= CSLR) +
(CS100[3] <= CSLR) +
(CS100[4] <= CSLR) +
(CS100[5] <= CSLR) +
(CS100[6] <= CSLR) +
(CS100[7] <= CSLR) +
(CS100[8] <= CSLR) +
(CS100[9] <= CSLR) *1)
// • COUNT CS HI
CSHI10 = abs((CS100[0] >= CSHR) +
(CS100[1] >= CSHR) +
(CS100[2] >= CSHR) +
(CS100[3] >= CSHR) +
(CS100[4] >= CSHR) +
(CS100[5] >= CSHR) +
(CS100[6] >= CSHR) +
(CS100[7] >= CSHR) +
(CS100[8] >= CSHR) +
(CS100[9] >= CSHR) *1)
// • DOJI
DOJIX = (abs(O-C)<=((H-L)*0.1))
DOJI = DOJIX ? 10: DOJIX >=1
// • PLOTS
plot(DOJI,      style=columns, color=silver,  transp=20)
plot(CLT10,     style=columns, color=#0000FF,  transp=45)
plot(CSLO10,    style=columns, color=red,   transp=45)
plot(CSHI10,    style=columns, color=#00FF00, transp=45)

// • GRAVEYARD```
What about tails pointing up? Can this situation suggest institutional selling and could an indicator identify this?
Thank you very much for these indicators!
Good indicator. Thanks for sharing!
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