Sidewaydetect
- Indicators
- Version: 1.10
- Updated: 5 February 2025
- Activations: 5
The indicator continuously calculates the current ATR value and displays it on the chart.
If an adjustable threshold is undershot, a channel is automatically drawn to indicate a possible sideways movement.
As soon as this threshold is exceeded again, the channel is removed from the chart.
This is intended to show that the current market movements are weak and
the channel shows a possible direction of a sideways movement in the market.
In addition to the threshold, the scaling of the ATR value can also be changed at any time so that values that are too high are not displayed depending on the financial instrument.
In addition, the following can be set:
1. the number of last chart candles on the basis of which the channel should be created
2. Background color of the channel
3. Number of bars for the extension to the right
4. Font color and font size of the ATR label
5. X-Y position of the label
6. Line color and thickness of the channel
This indicator is part of the OH strategy, you can view other indicators of this strategy
if you click on my name as a seller.
