OPEN-SOURCE SCRIPT
Updated Displacement detector
This indicator aims to find energetic displacements that cover a higher range than a given threshold value. It shows the start of the displacements and all the ends that satisfy the given parameters. It can also be used to alert in case a displacement is found.
Release Notes
Removed some unnecessary plots.Release Notes
Added "Max counter move", a value that allows smaller candles of the opping direction compared to the displacement's direction to be counted into the displacement's candles. "Max bars in displacement" extended to contain max 12 elements.Release Notes
Added a parameter to allow for irregular bars to be counted towards a displacement. The max size of the irregular bars can also be controlled.
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 publication is governed by House rules. You can favorite it to use it on a chart.
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