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tucomprend

King Cobra

tucomprend  
Moving Averages simple clear NEW
25
1
movingaverage simple clear new
With this indicator i tried to create a more clear view of the daily chart.
This indicator only works on the daily chart.

This is how the plotted line is created:
When the 'day close' is greater then the 'day hl2' it plots 1 up 'color = green'
When the 'day close' is lesser then the 'day hl2' it plots 1 down 'color = red'

When the 'day hl2' is greater then the 'previous day hl2' it plots 1 up 'color = green'
When the 'day hl2' is lesser then the 'previous day hl2' it plots 1 down 'color = red'

When value (position) of plotted point is on the same value (position) as previous point it plots the color yellow.

A yellow spot could be position entry or exit.

Enjoy:)

Open-source script

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