This script attempts to find consolidations or retracements within the context of a previous uptrend - basically looking for flag type patterns. It first measures an initial move (referred to as the flag pole in this script) and then looks for consolidation after that move within a certain range. If the consolidation is within the rage, it plots a dot under the candle to show you the consolidation areas. It's not fool proof, but seems to do a decent job of identifying pullbacks and sideways consolidations reasonably well.
Do you think it's possible to code for bear flags as well?
millerrh
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@flamingflamingo98, yes, shouldn't be a problem. a bit busy at the moment so may take a while, but I'll put it on the backlog.
sinclairempana
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hey bro how much do u charge for custom indicator
millerrh
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@sinclairempana, it's not something I do. not enough time for things that I want to do for myself as it is. Maybe in the future someday would be something I'd consider.