I coded this one using Tim West's concept of range expansion bars.
It's a nice addition to switch back and forth when using his UDIO bars from the Key Hidden Levels indicator pack to analyze price action on a bar by bar basis.
The indicator plots a red or green bar signaling strong buying on selling, which almost always implies continuation, or a good chance to...
I removed the outside bar filter for range expansion bars.
You will need Tim West's TW_UB indicator to plot those. It'll be more useful if you use both, since you can see when prices trend or consolidate visually by seeing the bar colors alongside the range expansions.
Hi, I updated the code to be able to use Tim West's TW_UB indicator, which helps a lot with seeing price waves, coloring bars that form new highs green, new lows red and inside and outside bars red.
The indicator now only plots range expansion bars, with a triangle shape above or below each bar to make it visually clear.
Hope you find this of use.