OPEN-SOURCE SCRIPT
Updated NextBarColor
NextBarColor
This is two-bars pattern search/matching indicator.
and searches for the same combination of 2 bars (current and previous) in the past.
Then shows as % value how many times the next bar went up or down.
Grey bar compares ups and downs with all results, including cases when price did not move.
My testing is showing better results when current and previous bars colors are also used in the search.
This is two-bars pattern search/matching indicator.
- This indicator compares multiple values:
- current bar high with previous bar open
- current bar high with previous bar close
- current bar high with previous bar high
- current bar high with previous bar low
- current bar low with previous bar open
- current bar low with previous bar close
- current bar low with previous bar high
- current bar low with previous bar low
- current bar close/current_price with previous bar high
- current bar close/current_price with previous bar low
- current bar close/current_price with previous bar open
- current bar close/current_price with previous bar close
and searches for the same combination of 2 bars (current and previous) in the past.
Then shows as % value how many times the next bar went up or down.
Grey bar compares ups and downs with all results, including cases when price did not move.
My testing is showing better results when current and previous bars colors are also used in the search.
Release Notes
NextBarColorThis is two-bars pattern search/matching indicator.
- This indicator compares multiple values:
- current bar high with previous bar open
- current bar high with previous bar close
- current bar high with previous bar high
- current bar high with previous bar low
- current bar low with previous bar open
- current bar low with previous bar close
- current bar low with previous bar high
- current bar low with previous bar low
- current bar close/current_price with previous bar high
- current bar close/current_price with previous bar low
- current bar close/current_price with previous bar open
- current bar close/current_price with previous bar close
and searches for the same combination of 2 bars (current and previous) in the past.
Then shows as % value how many times the next bar went up or down.
Grey bar compares ups and downs with all results, including cases when price did not move.
My testing is showing better results when current and previous bars colors are also used in the search.
Release Notes
Added volume to the pattern check and set 60% match as default.
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 publications is governed by House rules. You can favorite it to use it on a chart.
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