PA ScratchiCloud v2 — Indicator by SuddenFX

I've added the central pivot (white line) for traders who like to trade mean reversion.

I've also added the hourly open so you can see which way price is trending. If price is above the hourly then look to take long breakouts. If under hourly look to take short breakouts.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?

// Based on the study by Golgistain
// Modified by CharlieMax for price action scalping

study(title="HB H/L", shorttitle="PA ScratchiCloud", overlay=true)
len = input(4, minval=1, title="Length")
len2 = input(4, minval=1,title="Length")
    
h = highest(len)
h1 = dev(h, len) ? na : h
hpivot = fixnan(h1)
   
openprice = valuewhen(minute == 0, security(ticker, "60", open), 0)
l = lowest(len2)
l1 = dev(l, len2) ? na : l
lpivot = fixnan(l1)

mean = (hpivot+lpivot)/2

plot(mean, color=white, linewidth=2)
plot(hpivot, color=green, linewidth=2)
plot(lpivot, color=red, linewidth=2)
plot(openprice, color=purple, linewidth=2)