Dreadblitz

Leledc Exhaustion Bar V4 PLUS

Leledc Exhaustion Bar indicator created by glaz converted to Pine 4, plotshape was added.
Release Notes: added alerts
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Kommentarer

Please fix the alert or add a code so that it gives an alert when the signal goes up or down
Svara
What if we set the code for leledc to 5 instead of 4?
Svara
Dreadblitz demiran12
@demiran12, you mean close ?
Svara
Dreadblitz Dreadblitz
@Dreadblitz, you mean close 4 ?
Svara
demiran12 Dreadblitz
@Dreadblitz, this cades in 4

if close > close
bindex := bindex + 1
bindex
if close < close
sindex := sindex + 1
Svara
nice, what is the meaning behind 1 2 3 bomb or hammer ?
Svara
Dreadblitz vikkranntshah
@vikkranntshah, if you see the original glaz indicator, the minor changes are represented by an unfilled circle, in this case it is represented by 1 pump / hammer, the major changes in the original indicator are represented by a solid circle, in this case it is represented By 2 pump / hammer, many times the indicator generates a major and minor change signal at the same time, in the indicator it is represented by an empty circle + a solid point inside, in this indicator it is represented by 3 pump / hammer.
Svara
vikkranntshah Dreadblitz
@Dreadblitz, thank you so much for the better understanding

regards
+1 Svara
nice conversion. however major exhaustion are not showing up based from the original.
Svara
Dreadblitz francxisz
@francxisz, the major exhaustion is not visually shown as the original, but it generates the same signals as the original, you can confirm it by looking at the 2 indicators at the same time, the visual reading is: major exhaustion (2 bombs or hammer), minor exhaustion (1 bomb or hammer), major and minor exhaustion at the same time (3 bombs or hammers)
Svara
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