B3 Measured Moves Triangle

The B3 Measured Moves Triangle indicator measures the individual moves from a pivot high to pivot low, or vise versa. Then, two of the most recent moves are projected from three different points of a HHLLHH or LLHHLL triangle. The idea behind the system is to plot expected ranges from the current pivot high or low, based on recent price activity. The proprietary algorithm has a method of locating the moves and projection points that ensures it will work on any chart symbol and any bar style or interval resolution, and it adjusts to the current trading ranges as they form.

There is only one numeric sensitivity input, and when at a higher value, the algorithm is more sensitive to reversal pivots which affects both the moves and the triangle size. The rest of the inputs are on/off settings, and there are many ways to modify the look of this indicator on your charts.

Why is this algorithm and script a great tool?
  • It works on ANY symbol – This indicator works on any chart that makes highs and lows thru time.
  • It works on ANY timeframe or bar resolution
  • It works on ANY bar or candle type
  • It works dynamically to analyze chart behavior, draws SOLID conclusions based on price action
  • It plots ‘ahead of price’ – making it more of a leading indicator than a lagging indicator

Works really well in concert with the B3 Trend-Range bar painting indicator.
Release Notes: Code Cleanup
Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact HammondB3 for more information, or follow the author's instructions below.

Please note that this is a private invite-only script that was not analyzed by script moderators. Its compliance to House Rules is undetermined. TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases, you can find a good open-source alternative for free in our Public Library.

Author's instructions

https://sowl.co/bowih6 << Access by clicking link to pay the minimum fee; tip by typing & raising the price of the fee. Access will be granted to your username within a few hours. (SECURE - MOST PAYMENT TYPES ACCEPTED) Access to this script is permanent.

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Warning: please read before requesting access.

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