I'v already posted a idea about this indicator. You guys can make this chart more complete if you want. Complete indicator is just fixed the color align in some price pattern. The rule is hard to write for me but we have simple version here. :)
Read more about tower line: Tower line here
Need help about tower line(To add the color align when price expand or other situation)
Detail about tower line
Have you heard about tower line
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Make flat pattern more accurate. (Better color when within bar appears)
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Make flat top/bottom pattern more better. Previous version don't make 4th flat bars with correct color but this version improved it.
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Fixed bugs.
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Added some indicator.
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Add new tag for easier search and updated to v4 script. It's same as v3. It doesn't changed anything.
Thank u for writing such a wonder TOWER indicator
I have used with rsi > 50 and it show great result
it has the ability to 1-3 days early detection of the stock to be run
Thank u
c073
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Modify to study("Tower Line",'TWR',overlay=true) Then it's the main chart
c073
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Notice that on 4th bar. If it break up. It must break two previous tower box to make price reverse. Because color is aligned with previous bar.
Don't be fooled by it's color.
Only flat bar with change color is price break. But 4 or more is not.
c073
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To port the indicator to other platform. If the platform's function is complete it's easy for you to "copy" indicator.
But this tower chart. It takes me 3-4day and I can't write a complete version due to not to know the charting rule.
Now I know how to draw it but it still so hard for me to write a complete version.
Because you should consider all kinds of price pattern which caused this "simple version" display wrong color.[Color don't aligned correct is a kind of wrong too.]
I already solved the price continue expand problem.
But thurst stop thurst ... I think it's already solved but not tested.
It's very annoy when you writen a better version with pretty and correct color but after some test it turn out your "condition rule" is not perfect. >:3
c073
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Study this graph carefully You will found this chart will help to determine the resistant/support point more easily and ease.
It makes great help in analyse price chart.
c073
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The situation is
1. D1 then U1 then D1 .... Price continue expand without stop. The color should be aligned.
2. D1 then not(U1&D1) then D1 then not(U1&D1) then D1 Or reverse for U1. It's just a continue price break but with a within bar besides the "break bar"
3. All situation which caused the color is wrong should be fixed.
I have used with rsi > 50 and it show great result
it has the ability to 1-3 days early detection of the stock to be run
Thank u