OPEN-SOURCE SCRIPT
Decision point boxes [LM]
Updated
Hello traders,
I would like to introduce you decision point boxes study. The idea is the same as the pivots looking left and right some count of candles that has to be either up or down candle the only difference from pivots is that I'm only looking for consecutive up or down candle and in between them one candle that is oposite stance than surounding also candle has to have by default 50% or greater of wicks than body which mean market has done some decission at this candle.
Example of up candles and decision down candle:
Example of down candles a decision up candle:
Hope you will enjoy it
I would like to introduce you decision point boxes study. The idea is the same as the pivots looking left and right some count of candles that has to be either up or down candle the only difference from pivots is that I'm only looking for consecutive up or down candle and in between them one candle that is oposite stance than surounding also candle has to have by default 50% or greater of wicks than body which mean market has done some decission at this candle.
Example of up candles and decision down candle:
Example of down candles a decision up candle:
Hope you will enjoy it
Release Notes
added option to extend boxes only those which are untouched by price actionRelease Notes
added input setting for box colorOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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