An interesting experiment to make an indicator act as a counter. I call it CCH - Close Counter Histogram. It adds 1 when current close is higher than previous close and reduces -1 when current close is lower than previous close. In the CCH settings you set how many bars to look back and use EMA to smooth the results or disable EMA smoothing. Disable the EMA smoothing and you'll see the real deal (pure counter).
The higher the GREEN columns the more higher closes and the lower the RED columns the more lower closes. In case columns are declining above 0 a more darker green will appear. In case columns are declining below 0 a more darker red will appear.
Supports bar coloring (disabled by default).
Feel free to comment and Like if you like. Enjoy :)
Nice work. many in AI/ML uses tick bars, volume bars and information bars to resample and build new candles for this specific purpose. It's a bit like counting cards in Vegas. Analyzing probabilities of another uptick, downtick, etc.
Have you considered working this up as a strategy?
dman103
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@Eervin123, Thanks, a nice way of thinking about it as of analyzing probabilities! I did not try it out as a strategy.
smallwonders21
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V nice indicator bro m still studying and back testing looks like v strong..
Have you considered working this up as a strategy?