Displays "spike days" by colouring the bars (Default: yellow for a Spike High and blue for a Spike Low)

Spike Day's definition taken from Jack D Schwager's Book: A Complete Guide to the Futures Market: Technical Analysis , Trading Systems, Fundamental Analysis , Options, Spreads, and Trading Principles

A spike is:
  • A wide difference between the spike high and the highs of the preceding and succeeding days.
  • A close near the low of the day's range.
  • A substantial price advance preceding the spike's formation.

The more extreme each of these conditions, the greater the likelihood that a spike high will prove to be an important relative high or even a major top.

(inverse is true for lows, basically)

Skrip open-source

Sejalan dengan semangat TradingView, penulis skrip ini telah mempublikasikannya secara open-source, sehingga para trader dapat memahami dan memverifikasinya. Salut untuk sang penulis! Anda dapat menggunakannya secara gratis, tetapi penggunaan kembali kode ini dalam publikasi diatur oleh Tata Tertib. Anda dapat memfavoritkannya untuk dapat menggunakannya didalam sebuah chart.

Inggin menggunakan skrip ini pada chart?


can I use it for intraday trading?
+1 Jawab
lvturner mrgr888n
@mrgr888n, No
Hi @lvturner Thanks for sharing this. Does it repaint? If prices go higher and higher in later stage, the previous yellow candle would be wiped off?

@TY19 No, as far as I recall it should not do this
Interesting, Thanks for your efforts =D
@ICEKI, You're welcome! The book is well worth a read btw, regardless of the asset classes you trade!