Amibroker indicator
Budget: ₹1,500 – ₹12,500 INR
the project is to create a indicator based on the concept of structural pivots
Conditions:
We are marking SPL and SPH(small pivots high and low) and LPH- LPL (large pivots high and low)
SPL: To mark SPL, we need two higher highs and higher closes compared to the reference bar. These necessarily need not to be consecutive
SPH: To mark SPH, we need two lower lows and lower closes compared to the reference bar. These necessarily need not to be consecutive
These SPL and SPH are alternative in nature.. Means SPL and SPH alternate with each other, SPL cannot follow another SPL.. There must be one SPH in between two SPLs.. Vice versa in case of SPH..
SPL is lowest point between two SPHs and SPH is highest point between two SPLs.
And these SPL and SPH will plot zig-zag like lines(dotted).
LPH are marked when an SPL gets broken (price goes below the previously marked SPL ).
LPL are marked when an SPH gets broken (price goes above the previously marked SPH ).
LPH and LPH are also alternative in nature
Conditions:
We are marking SPL and SPH(small pivots high and low) and LPH- LPL (large pivots high and low)
SPL: To mark SPL, we need two higher highs and higher closes compared to the reference bar. These necessarily need not to be consecutive
SPH: To mark SPH, we need two lower lows and lower closes compared to the reference bar. These necessarily need not to be consecutive
These SPL and SPH are alternative in nature.. Means SPL and SPH alternate with each other, SPL cannot follow another SPL.. There must be one SPH in between two SPLs.. Vice versa in case of SPH..
SPL is lowest point between two SPHs and SPH is highest point between two SPLs.
And these SPL and SPH will plot zig-zag like lines(dotted).
LPH are marked when an SPL gets broken (price goes below the previously marked SPL ).
LPL are marked when an SPH gets broken (price goes above the previously marked SPH ).
LPH and LPH are also alternative in nature
Related categories:
Amibroker Formula Language