On those bull or bear bars it draws the high-low midpoint and the midpoint between the close and the opposite extreme, as dotted lines or a filled box. Optional fractional levels sit within the same bar range. Lookback, threshold, colours, transparency, width and forward extension are adjustable. It draws on the price chart and has no entry or exit rules.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
ABR Lookback
int
8
abrLookback
Big Bar Threshold (x ABR)
float
1.6
bigBarMult
Show Bull Bars
bool
true
showBull
Show Bear Bars
bool
true
showBear
Display Mode
string
Lines
midMode
Bull Colour
color
color.blue
midBullColor
Bear Colour
color
color.red
midBearColor
Box Fill Transparency
int
75
midBoxTransp
Display Mode
string
Off
fracMode
Lower Fraction
float
0.33
fracLow
Upper Fraction
float
0.66
fracHigh
Bull Colour
color
color.blue
fracBullColor
Show all 16 settings
Setting
Type
Default
Variable
Bear Colour
color
color.red
fracBearColor
Box Fill Transparency
int
50
fracBoxTransp
Extension (bars)
int
10
extendBars
Line Width
int
2
lineWidth
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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