This indicator gives a visual representation of Dow Theory Price action based trend analysis and provides trader a table with 4 different timeframe to align with the trend. It will help traders identify if it is an ongoing Impulse Wave or a Corrective Wave.
3 rules for Bullish Price Action setup (Uptrend or continuation of existing UpTrend): Denoted by 'U' below the candlestic HH - Higher High HL - Higher Low CAH - Close above prior High
3 rules for Bearish Price Action setup (Downtrend or continuation of existing DownTrend): Denoted by 'D' below the candlestic LH - Lower High HL - LowerLow CAH - Close below prior Low
Exception - Outside Candle: Denoted by 'OC' above the candlestic Outside reversal is a two-day price pattern that shows when a candle or bar on a candlestick or bar chart falls “outside” of the previous day's candle or bar.
The table posistion can be set be user from the input settings as per his screen setting / resolution. The trailing line can is also customizable from inputs, recomended value is 3-4.
Ideation Credits: Mr. Vineet Jain
Catatan Rilis
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Fixed the code where it the trend was an existing trend was changing without a valid DOW Theory Price action condition becoming true.
1. Line 82-94 can be replaced with call to f_Strat() 2. Can use built in function timeframe.in_seconds() instead of custom function.
GOALADDICTED
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can you make this arrows non repaint?? it is ok if some signals might get wrong but make it 100% non repaint pls
Mohit_Kakkar08
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For Bearish, please read as *CAL - Close below prior Low instead of CAH. Sorry for the typo, unable to edit the description now. Will correct in version-2.
1. Line 82-94 can be replaced with call to f_Strat()
2. Can use built in function timeframe.in_seconds() instead of custom function.