IB BREAKOUT FAILURE With custom Wick size
Great update -> choose the size of the wick that fails the ID range.
This will improve the stats of this failed PA play.
This will improve the stats of this failed PA play.
study(title = "IF v1", overlay = true) showlabel = input(title="Show label", type=bool, defval=true) pctP = input(50, minval=1, maxval=99, title="Percentage Input For PBars, What % The Wick Of Candle Has To Be") pblb = input(1, minval=1, maxval=100, title="PBars Look Back Period To Define The Trend of Highs and Lows") //PBar Percentages pctCp = pctP * .01 pctCPO = 1 - pctCp range = high - low outsidebar = (high >= high[1] and low <= low[1]) insidebar = ((high[1] <= high[2] and low[1] >= low[2]) and not(outsidebar)) bearishibbf=((insidebar and (high > high[1] and close < high[1]) and open < high - (range * pctCp) and close < high-(range * pctCp) and high >= highest(pblb) ? 1 : 0)) bullishibbf=((insidebar and (low < low[1] and close > low[1]) and open > high - (range * pctCPO) and close > high - (range * pctCPO) and low <= lowest(pblb) ? 1 : 0)) barcolor( bearishibbf ? white : na, 0, true, "IF") plotshape(showlabel ? bearishibbf : na, title= "IF", location=location.abovebar, color=white, style=shape.arrowdown, text="IF") barcolor(bullishibbf ? white : na, 0, true, "IF") plotshape(showlabel ? bullishibbf : na, title= "IF", location=location.belowbar, color=white, style=shape.arrowup, text="IF")