Line Balance AM
The indicator implements Bill Williams' idea. A buy signal appears when a High level of one of the closest previous bars (with ascending Highs) is broken through. A breakthough of the lines displayed by the indicator serves as a market entry/exit signal. The indicator features a customizable parameter allowing you to use a group of bars (rather than a single bar with a higher High) to define a balance line.
- Sensitivity - indicator sensitivity defining the number of bars, the High values of which are used as a maximum value when defining the balance line.
The indicator does not repaint.