HH&LL (Highest High and Lowest Low) — Indicator by MarcoValente

It show us HH and LL, OB line and OS can regulate as you like ; histogram is the difference between the hh and ll, and show the strenght of the trend. Can use also the adaptive bands for the OB/OS level.

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.

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Want to use this script on a chart?

//@version=2
study("HH&LL") // highest high & lowest low
length=input(20)
ww=input(false,title="use adaptive OS/OB ?")
qq=input(true,title="use backround signal color?")
his=input(true,title="Show Histogram?")
useCurrentRes = input(true, title="Use Current Chart Resolution?")
resCustom = input(title="Use Different Timeframe? (Uncheck Box Above).", type=resolution, defval="D")
res = useCurrentRes ? period : resCustom
HHH =iff( high > high[1], (high - lowest( high, length )) /( highest( high, length ) - lowest( high, length ) ), 0 ) 
LLL = iff( low < low[1],( highest( low, length ) - low ) /( highest( low, length ) - lowest( low, length ) ), 0 ) 
HHSa = ema( HHH, length ) * 100 
LLSa = ema( LLL, length ) * 100 
HHS = security(tickerid, res,HHSa)
LLS= security(tickerid, res, LLSa)
aa=plot( HHS, "HHS" ,color=blue,transp=0) 
bb=plot( LLS, "LLS" ,color=red,transp=0) 	
hln=input(60)
lln=input(10)
smo=input(50,"Bands Filter length")
hs=highest(max(HHS,LLS),50)
lw=lowest(min(LLS,HHS),50)
mh=ema(hs,20)
RMSa= sum( mh*mh, smo)
RMS= avg(sqrt(RMSa/smo),hln)
al=ww?RMS:hln
ms=ema(lw,20)
MSa= sum( ms*ms, smo)
MS= avg(sqrt(MSa/smo),lln)
bs=ww?MS:lln
col=HHS>al and HHS[2]<HHS[1] and HHS[1]>HHS and LLS<bs?1:0
cor=LLS>al and LLS[2]<LLS[1] and LLS[1]>LLS and HHS<bs?1:0
con=HHS<bs and HHS[2]>HHS[1] and HHS[1]<HHS and LLS>al?1:0
cod=LLS<bs and LLS[2]>LLS[1] and LLS[1]<LLS and HHS>al?1:0
bc=col or cod?red: cor or con?green:na
a=plot(al,style=cross,color=black,transp=50)
b=plot(bs,style=cross,color=black,transp=50)
df=abs(HHS-LLS)
cl=df>55?red : df<25?green :orange
plot(his?df:na,color=cl,style=histogram,linewidth=2,transp=75)
plot(HHS>al?HHS:na,style=histogram,histbase=60,color=red)
plot(LLS>al?LLS:na,style=histogram,histbase=60,color=red)
plot(LLS<bs?LLS:na,style=histogram,histbase=10,color=green)
plot(HHS<bs?HHS:na,style=histogram,histbase=10,color=green)
bgcolor(qq?bc:na,transp=80)