This indicator identifies High Of Low Price (HOLP) and Low Of High Price (LOHP) candlestick setups based on price extremes over a specified lookback period.
1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
A HOLP signal triggers when the current bar closes above the high of a recent session low, whereas a LOHP signal occurs when closing below the low of a recent session high. It plots diamond markers on the main price chart and can optionally display pivot price labels. Settings allow users to adjust the lookback window, enable two-bar confirmation, and toggle pivot annotations.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Enable HOLP/LOHP signal
bool
true
enableHOLPLOHP
Enable Pivot Point
bool
false
_bPivot
Lookback Periods
int
10
_p
Trigger bar needs to close below/above pivot bar and its prior bar?
bool
false
_b2bar
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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