BOX Breakout Trading

A new box will be added, if the closing price is higher than the maximum (lower than the minimum) of the current box series no less than for the specified value.

Reversal will be made, if the closing price is higher (lower) than the last box on a value no less than the specified.

This is a trend indicator and it can be used as an alternative for the trend definition instruments which use averaging.

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Color Candle Indicator. The indicator implements a breakout system using the channel. When price exits the gray channel, the candlestick color changes to the color corresponding to trend direction. Blue for growth, yellow color for fall. Bright colors denote coincidence of trend direction and direction of a candlestick. Dark colors correspond to the situation when the direction of a candlestick is opposite to trend.
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Rafal Krzysztof Manuszewski
2407
Rafal Krzysztof Manuszewski 2024.10.08 19:51 
 

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