Transient Zones

Updated version 1.1:
Transient Zones v1.1

Simple indicator to visualize Transient Zones (TZ) and Potential Transient Zones (PTZ).
Original ForexFactory thread by EURUSDD http://www.forexfactory.com/showthread.php?t=434603&page=286

- Mid bar transient zones detection
- Draw rectangles for zones (once rectangle drawing gets implemented in pine script)
- Mark forming PTZs more clearly
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study("Transient Zones", "TZ", overlay=true)
h_left = input(title="h left", type=integer, defval=10)
h_right = input(title="h right", type=integer, defval=10)
show_ptz = input(title="Show PTZ", type=bool, defval=true)
show_channel = input(title="Show channel", type=bool, defval=true)
//barCount = nz(barCount[1]) + 1
//check history and realtime PTZ
h_left_low = lowest(h_left)
h_left_high = highest(h_left)
newlow = low <= h_left_low
newhigh = high >= h_left_high
plotshape(newlow and show_ptz, style=shape.triangledown, location=location.belowbar, color=red)
plotshape(newhigh and show_ptz, style=shape.triangleup, location=location.abovebar, color=green)
channel_high = plot(show_channel ? h_left_low : 0, color=silver)
channel_low = plot (show_channel ? h_left_high : 0, color=silver)
//check true TZ back in history
central_bar_low = low[h_right + 1]
central_bar_high = high[h_right + 1]
full_zone_low = lowest(h_left + h_right + 1)
full_zone_high = highest(h_left + h_right + 1)
central_bar_is_highest = central_bar_high >= full_zone_high
central_bar_is_lowest = central_bar_low <= full_zone_low
plotarrow(central_bar_is_highest ? -1 : 0, offset=-h_right-1)
plotarrow(central_bar_is_lowest ? 1 : 0, offset=-h_right-1)
Updated version 1.1:
Transient Zones v1.1
frisoli Jurij
@Jurij, is there any way of getting those arrows to pop up sooner as opposed to later. It would be nice if they appeared as the candles went along and got matched up right away.
+5 Reply
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