1Copy the scriptPress Copy script above, or the copy button on the code below.
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
133 lines of Pine Script v4 from beta/arrays/test-026-lvl2.pinescript, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
Test 026 Lvl2 tracks local extreme high and low price points based on candle relationships and direction shifts, dynamically updating pre-allocated line drawings on the main price chart. The script colors descending lines teal and ascending lines orange to reflect directional slope. The degree setting controls the depth of the calculation. As an experimental script, its main focus is line management and chart structure visualization.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
degree
int
1
degree
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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