HiLo Activator — Indicator by SandroTurriate

trend Gann

trend gann

Going to try using it in combination with the ECO indicator.

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?

study(title="HiLo Activator", overlay=true)
length = input(3, minval=1)
displace = input(0, minval=0)
highsma = sma(high, length)
lowsma = sma(low, length)
swing = iff(close > highsma[displace], 1, iff(close < lowsma[displace], -1, 0))
mah = highest(high, length)
mal = lowest(low, length)
stop = iff(swing==1, mal, iff(swing==-1, mah, stop[1]))
linecolor = iff(stop < low, green, red)
plot(stop, style=line, linewidth=2, color=linecolor)