CAHOLD / CBLOHDCAHOLD (Close Above Highest Low Day) and CBLOHD (Close Below Lowest High Day)
The logic is based on identifying pullbacks followed by strength in the direction of the trend, making it useful as a trend-continuation entry signal rather than a reversal tool.
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How CAHOLD Works (Bullish)
1. A sequence of red candles forms (a pullback).
2. The first green candle appears.
3. The script identifies the highest high of the prior red-candle sequence (HOLD).
4. A CAHOLD signal triggers when a green candle closes above that HOLD level.
5. A small green arrow is plotted below the candle.
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How CBLOHD Works (Bearish)
1. A sequence of green candles forms (a bounce).
2. The first red candle appears.
3. The script identifies the lowest low of the prior green-candle sequence (LOHD).
4. A CBLOHD signal triggers when a red candle closes below that LOHD level.
5. A small red arrow is plotted above the candle.
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Optional Filters
• EMA / SMA Trend Filter
Only shows CAHOLDs in uptrends and CBLOHDs in downtrends.
• Minimum Pullback Depth
Requires a minimum number of red/green candles before a signal can trigger.
• ATR Breakout Filter
Requires price to break the level by a volatility-adjusted amount.
Closeabove
Close Over/Under LevelIf you want to be alerted when a price closes above or below a given level(s), then this indicator is for you! 😁 Whether you're looking for a breakout, or some change of structure, etc, this should come in handy.
Usage:
Just add a level(s) (anything above 0).
Optionally plot lines.
Set alerts as normal.
Enjoy!
