Breakout Range Short Strategy
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.
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//////////////////////////////////////////////////////////// // Copyright by HPotter v1.0 09/09/2014 // Breakout Range Short Strategy //////////////////////////////////////////////////////////// study(title="Breakout Range Short Strategy", overlay = true) look_bak = input(4, minval=1, title="Look Bak") xLowest = lowest(low, look_bak) pos = iff(low < xLowest, 1, 0) barcolor(pos == 1 ? red: blue ) plotshape(pos, style=shape.triangledown, location = location.abovebar, color = red)