INVITE-ONLY SCRIPT
Consolidation Extension for Contraction and Expansion Indicator
Updated
What is this indicator?
This indicator is an extension of the contraction and expansion plotter indicator. It uses consolidation levels and extends the consolidations until the lines are breached. Originally this script was in the Contraction and Expansion plotter but it was placed here because of memory limits in PineScript due to the loops that are used in this indicator.
How to use?
This indicator is pretty simple to use. On the inputs sections you can determine the loop step amount.
A loop step amount of 2 is recommended because it isn't as laggy and glitchy as the first part which can cause study errors on certain timeframes like the 1 hourly timeframe. The problem of the second loop step amount is that it isn't as accurate at loop step amount of 1.
It isnt recommended to change the loopback period or the minimum consolidation length inputs because the script has been optimized for these specific inputs.
Features
This indicator is an extension of the contraction and expansion plotter indicator. It uses consolidation levels and extends the consolidations until the lines are breached. Originally this script was in the Contraction and Expansion plotter but it was placed here because of memory limits in PineScript due to the loops that are used in this indicator.
How to use?
This indicator is pretty simple to use. On the inputs sections you can determine the loop step amount.
A loop step amount of 2 is recommended because it isn't as laggy and glitchy as the first part which can cause study errors on certain timeframes like the 1 hourly timeframe. The problem of the second loop step amount is that it isn't as accurate at loop step amount of 1.
It isnt recommended to change the loopback period or the minimum consolidation length inputs because the script has been optimized for these specific inputs.
Features
- Consolidation Extensions based on breaches
- Change consolidation top and bottom line color
- Change Consolidation Line Style
- Change Consolidation line width
Release Notes
Description UpdateInvite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact Traders_Endeavors for more information, or follow the author's instructions below.
Please note that this is a private, invite-only script that was not analyzed by script moderators. Its compliance to House Rules is undetermined. TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases, you can find a good open-source alternative for free in our Community Scripts.
Author's instructions
″This script is part of the Contraction Plotter Indicator. Get instant access here: patreon.com/user?u=80987417
Want to use this script on a chart?
Warning: please read before requesting access.
Link Tree: linktr.ee/tradersendeavors
Access our indicators: patreon.com/user?u=80987417
Access our indicators: patreon.com/user?u=80987417
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.