PA ScratchiCloud
This indicator is a modification of Golgistain's Hi/Lo Pivot indicator. I added a shorter length 2 to get early entries on short positions.
The way it works is you choose a timeframe you would like to trade and then set the indicator length to match the candle price action patterns. Default is M5 chart with 4/2 for the indicators.
Rules: Take the trade when price breaks out the top or bottom of the line.
Exit: Take what you can get and give nothing back.
Good luck - CharlieMax :0)
The way it works is you choose a timeframe you would like to trade and then set the indicator length to match the candle price action patterns. Default is M5 chart with 4/2 for the indicators.
Rules: Take the trade when price breaks out the top or bottom of the line.
Exit: Take what you can get and give nothing back.
Good luck - CharlieMax :0)
// Original work done by Golgistain
// Modified by Charlie Max for price action scalping
study(title="HB H/L", shorttitle="ScratchiCloud", overlay=true)
len = input(4, minval=1, title="Length")
len2 = input(2, minval=1,title="Length")
//The length defines how many periods a high or low must hold to be a "relevant pivot"
h = highest(len)
//The highest high over the length
h1 = dev(h, len) ? na : h
//h1 is a pivot of h if it holds for the full length
hpivot = fixnan(h1)
//creates a series which is equal to the last pivot
l = lowest(len2)
l1 = dev(l, len2) ? na : l
lpivot = fixnan(l1)
//repeated for lows
plot(hpivot, color=blue, linewidth=2)
plot(lpivot, color=purple, linewidth=2)
//plot(hpivot, color=blue, linewidth=2, offset= -len+1)
//plot(lpivot, color=purple, linewidth=2, offset= -len2+1)
//plot(h1, color=black, style=circles, linewidth=4, offset= -len+1)
//plot(l1, color=black, style=circles, linewidth=4, offset= -len+1)
