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BarLineBreak AM

The indicator detects the current trend using the following definition:

A trend is a market situation when each subsequent peak is higher/lower than the previous one, as well as each subsequent bottom is higher/lower than the previous one.

Exceeding all previous peaks/bottoms on the specified amount of bars by the current peak/bottom is considered to be a beginning of a new trend.

The indicator paints bars according to an identified trend.


Settings

  • Lines_Break - number of bars used for detecting a trend.

The indicator does not repaint.

Rodrigo da Silva Boa
7158
Rodrigo da Silva Boa 2015.12.29 02:40 
 

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Version 2.2 2016.05.19
Improved the indicator accuracy when both high and low of a new bar move beyond high and low of a specified period.
Version 2.1 2016.04.21
Fixed the error with the indicator rendering.
Version 2.0 2016.04.18
Addeed the check for the validity of the entered indicator settings.
Version 1.2 2015.11.18
Fixed the indicator calculation in case of successive equal bar Highs and Lows.
Version 1.1 2015.11.11
Revised indicator calculation algorithm. The calculation principle is preserved.