HR from Prev close

5 thg 3, 2021

This is my simple indicator to help identify whether an upside bar is unusual or not. I like to see a bar as particularly unusual like a 15% move in a long period where a typical move is under 5%. It usually signals a buying climax and the end of that short term rally.

I compares the previous bar's close to the current bar's high and is expressed as a percentage.

I am not much of an expert in pine so I did not program it to plot as a histogram but that is how I like to view it. If you know how, by all means, send me the edit and I will credit you.