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Price Strength

This indicator computes two lines representing the price bar strength. Close, high and low of each bar are compared with the highest high and lowest low of the last N bars, where N is a parameter set by user. Two lines are computed, a red one and a green one, with values between 0 and 100. High values of the red line means that close is very far from the bar high, while high value of the green line means price is very far from the bar low.

The indicator provides alerts when red or green line are above the level set by the user.

User can decide to receive a standard alert on MT4 and/or a push notification on Metatrader app.

User can configure the indicator by specifying:

  • InpPeriod - number of previous bars
  • Level       - Level above which alert is given, both for Red and Green line
  • UseAlert  - if set to True, enables visual alert on the display
  • UsePush   -  if set to True, enables push notification on Metatrader app
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