This is a simple but efficient indicator.
Its made from an oscillator, which is calculated from the current close price with the highest high and the lowest low over a period of time.
This way we can see how much prices has changed over a X ammount of candles ( in positive or negative ) .
Highest / Highest High Highest (Data) - HHV (Data, Period)
Lowest / Lowest Low Lowest (Data) LLV (Data, Period)
These functions calculate the highest / lowest value of a selected data.
Highest High and Lowest Low options are mostly used.
The Highest function calculates the highest value of the selected data in the past.
The Lowest function calculates the lowest...
A breakout refers to when the price of an asset moves above a resistance area or below a support area. Breakouts indicate that the price may be trending in the direction of the breakout.
L1 Breakout Indicator utilizes highest() and lowest() functions to define breakout levels. Use ema() to draw a trade line to detect the distance to...