OPEN-SOURCE SCRIPT
Impulse Guage Indicator for HA Candles
Updated
This script uses Heikin Ashi candles to smooth out the candles, then counts how many consecutive candles in a row are the same colour (red or green). It then takes each count and multiples it by the difference between close and open, to provide a weighted movement.
Where larger moves create greater impulses.
Where larger moves create greater impulses.
Release Notes
Added labels, and changed a few other small detailsOpen-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 publication is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
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