Highs & Lows — Indicator by UnknownUnicorn508364

Trend Analysis highs LOWS formation stop hunt TRAP levels level KEY

trendanalysis highs lows formation stop hunt trap levels level key

//siretate 8/2/2018
//use as a price structure studying tool
//defaults set for the 1 hour chart... inner cloud represents 24 hours in 1 day, outer cloud represents 5 days in 1 week (forex). Change per desired resolution and market session length.

Release Notes:

Updated color scheme...

Yellow - new high made
Dark red - new high made, then closed down (rejection)

Blue - new low made
Dark green - new low made, then closed up (rejection)

Added "alternate color scheme" option for coloring bars on new highs/lows only, to focus on non-ranging movement.

Mid-line is now SMA(20) for mean reversion purposes.

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

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