IB BREAKOUT FAILURE With custom Wick size

331 4 24
Great update -> choose the size of the wick that fails the ID range.
This will improve the stats of this failed PA play.
Remove from Favorite Scripts Add to Favorite Scripts
study(title = "IF v1", overlay = true)
showlabel = input(title="Show label", type=bool, defval=true)

pctP = input(50, minval=1, maxval=99, title="Percentage Input For PBars, What % The Wick Of Candle Has To Be")
pblb = input(1, minval=1, maxval=100, title="PBars Look Back Period To Define The Trend of Highs and Lows")

//PBar Percentages
pctCp = pctP * .01
pctCPO = 1 - pctCp

range = high - low

outsidebar = (high >= high[1] and low <= low[1])
insidebar = ((high[1] <= high[2] and low[1] >= low[2]) and not(outsidebar))

bearishibbf=((insidebar and (high > high[1] and close < high[1]) and open < high - (range *  pctCp) and close < high-(range * pctCp) and high >= highest(pblb) ? 1 : 0))
bullishibbf=((insidebar and (low < low[1] and close > low[1]) and open > high - (range * pctCPO) and close > high - (range * pctCPO) and low <= lowest(pblb) ? 1 : 0))

barcolor( bearishibbf ? white : na, 0, true, "IF")
plotshape(showlabel ? bearishibbf : na, title= "IF", location=location.abovebar, color=white, style=shape.arrowdown, text="IF")

barcolor(bullishibbf ? white : na, 0, true, "IF")
plotshape(showlabel ? bullishibbf : na, title= "IF", location=location.belowbar, color=white, style=shape.arrowup, text="IF")
Not lower than D timeframe? ;-)
I use it on all markets, so the frequency is okay! Hourly should be doable as well
+1 Reply
AleksanderThor PRO AleksanderThor
Also target not as great on hourly compared to daily, but can be done! :)

Link to FxLowe's script:
Inside Bar Breakout Failure

Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out