WaveRiders

PriceCounter

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Price Counter
Use to identify Price Short Term Trend By

PC = Present Close - 4 Previous Close

PC > 0 Show Value in Green bar
PC 0
Dot = Present Close - 2 Previous High
If PC = 0 or < 0
Dot = Present Close - 2 Previous Low

Indicator will Show momentum of price. PC bar is long mean price move fast .
PC bars are the same color continuously , mean price in trend.
PC bars are often flip color and small bar , mean price sideway and weak momentum .
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study(title="PriceCounter", shorttitle="PC")
len1 = input(4, minval=1, title="period1")
len2 = input(2, minval=1, title="period2")

src = input(close, title="Source")

count4 = (src - src[len1])*10
cl = close - low[len2]
ch = close - high[len2]
count2 = iff(count4>0,ch*10,cl*10)

plot(count4, color = count4<0 ? red : count4 >0 ? green : aqua , style=histogram, linewidth=3)
plot(count2, color = count2<0 ? orange : count2 >0 ? lime : blue , style=circles, linewidth=2)
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