is a basic and commonly used type of predictive analysis.
if you choose lower periods then it will be more sensitive. I choose 34 as it's one of fibonnaci number.
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tw = high - max(open, close)
bw = min(open, close) - low
body = abs(close - open)
_rate(cond) => 0.5 * (tw + bw + (cond ? 2 * body : 0)) / (tw + bw + body)
uprate = _rate(open <= close)
downrate = _rate(open >= close)
and add precision=0 to study() to avoid big numbers (see AAPL)
Could you please suggest, which indicator you used in the main chart for showing the ARROW