Tower line hereIt's just a very simply version.
Color even not very correct. I didn't write the price expand or other condition.
It's welcome if other guys want to write a full version.
If this kind chart is not from western.
Then I think it's qianlong platform's indicator. (QianLong means Money Dragon)
If you know the origin of tower line pelease comment to tell me. :3
Towerline
Need help about tower lineU1 & D1 is for 2 bar break.
main stick is always drwan by close & close
If price is not u1 && d1
We use these rule.
If price after u1 then stop to break we still color it blue but make it flat top.
draw close & close
If price after d1 and stopped break we color it orange.
But the important thing is the color fill thing.
We need to adjust the color and fill some gap.
In figure A1.
The last box is lower than previous. We just color the price range which is lower than previous box to opposite color. e.g orange.
All box is red and last is with blue & orange color. (the price higher than the lower edge of previous box is still blue color)
Another annoy thing is when price up then stop then up then stop.
Which is the up move but with a flat box besides them.
Ahhhhhh it just makes me crazy!!! Maybe I'm too bad to write chart. >:3
i.imgur.com
Detail about tower line.Previous I'v already writed something about it.
I'v updated the detail in comment. In case you guys might not read it. I'm writing this new article
Draw rule
2bar's range break
U1=close>=close and close>=close ? 1 : 0
D1=close<=close and close<=close ? 1 : 0
Draw them with the color you like.
U1->D1 or d1->u1 1st break. Fill the lower gap under the break to make them looks flat.
All these within move which is not belong to break move. Draw them as flat box. just use previous box's price and current close. (This rule is onle suitable for 1st flat box.Next 2nd flat box or more flat box need another rule)
(You must understand that after 1st flat box the 2bar range is narrowed. So it's not likely price will stay flat forever)
If 3rd bar or even 4 or more bar still don't make 2bar range move. Just use current close with another price which is when price first stop break. So it looks all flat. But another side of box is narrower.
Another version called ghost line which maintaince same colorchange with previous bar.
And I'm not faimlar with it.
The graph
imgur.com
Have you heard about tower line?It's something about two close price reverse.
It draw within bar.
Rule is within previous bar but higher than previous second bar.(In upmove)
Or within previous bar but lower than second previous bar.(In downtrend)
The within move is all flat.
All within bar's price is same when price first stop move.
Chart looks like this.
The interesting thing is that when price break the within move or just reverse.
It draw two colow on one candlestick line.(It's exactly two small candle body together)
i.imgur.com
This chart is just similar. Not very correct.
And I don't know where this "tower chart" come from.
Such a mysterious thing.
