PriceCounter
Price Counter
Use to identify Price Short Term Trend By
PC = Present Close - 4 Previous Close
PC > 0 Show Value in Green bar
PC 0
Dot = Present Close - 2 Previous High
If PC = 0 or < 0
Dot = Present Close - 2 Previous Low
Indicator will Show momentum of price. PC bar is long mean price move fast .
PC bars are the same color continuously , mean price in trend.
PC bars are often flip color and small bar , mean price sideway and weak momentum.
Use to identify Price Short Term Trend By
PC = Present Close - 4 Previous Close
PC > 0 Show Value in Green bar
PC 0
Dot = Present Close - 2 Previous High
If PC = 0 or < 0
Dot = Present Close - 2 Previous Low
Indicator will Show momentum of price. PC bar is long mean price move fast .
PC bars are the same color continuously , mean price in trend.
PC bars are often flip color and small bar , mean price sideway and weak momentum.
study(title="PriceCounter", shorttitle="PC") len1 = input(4, minval=1, title="period1") len2 = input(2, minval=1, title="period2") src = input(close, title="Source") count4 = (src - src[len1])*10 cl = close - low[len2] ch = close - high[len2] count2 = iff(count4>0,ch*10,cl*10) plot(count4, color = count4<0 ? red : count4 >0 ? green : aqua , style=histogram, linewidth=3) plot(count2, color = count2<0 ? orange : count2 >0 ? lime : blue , style=circles, linewidth=2)