OPEN-SOURCE SCRIPT

Diamonds

12 898
✋ Experimental script where a diamond shape is created by making 4 lines around each bar which touches the edge of the bar.

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𒀸 Example of how it works:
      Create the left upper line:
      
  • A) Calculate middle of the bar
          
  • B) Calculate which one is highest -> close or open
          
  •     'Draw' imaginary line from A to B (A starts 1 bar back)
          
  •      Adjust height of A by adding 2/3 of the difference between A & B
        𒓕 That's it!


𒀸 This technique can be developed further by anyone who's inspired.
     •  For now, I've just added an option where you can extend 2 lines of 1 specific bar
        𒓕 Settings ➺ extend lines ➺ toggle on/off ➺ type ➺ which bar back
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𒀸 X bars back sets the max bars in history
    •  Since this script uses line.new()  , this results in maximum 500 lines to be drawn.
        Each Diamand Bar contains 4 lines, resulting in maximum 125 Diamond Bars.

𒀸 Standard Candles ~ Diamond Bars
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Cheers!

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