IC breakoutThis indicator was implemented to detect indecision candles on a daily and 4-hour timeframe.
The settings of the indicator allow you to specify the maximum size (in percentage ) of the indecision candle, as well as the maximum price range (also in percentage ) between the low and the high of that indecision candle.
Moreover, as the title might indicate, the goal was not to only detect the indecision candles, but to get alerts (and information on the graph) when the high or low of an indecision candle is broken on the next block.
The alerts allow both merged and separate alerts.
The alert "1. IC breakout high/low" will be triggered for both a breakout under the previous low or above the previous high
The alert "2. IC breakout low" will be triggered only for a breakout under the previous low
The alert "3. IC breakout high" will be triggered only for breakout above the previous high
Indecisioncandle
Leg Out & IndecisionDisplays Leg Outs & Indecission Candles.
Parameters can be adjusted:
- Length: the number of candles used for calculating the AVG body.
- Legout Scale: the scale factor of the legout based on the AVG. of previous lenght candles
- Indecission candles: Indecission candles which body are lower than % range of the candle
