It show us HH and LL, OB line and OS can regulate as you like ; histogram is the difference between the hh and ll, and show the strenght of the trend. Can use also the adaptive bands for the OB/OS level.
//@version=2 study("HH&LL") // highest high & lowest low length=input(20) ww=input(false,title="use adaptive OS/OB ?") qq=input(true,title="use backround signal color?") his=input(true,title="Show Histogram?") useCurrentRes = input(true, title="Use Current Chart Resolution?") resCustom = input(title="Use Different Timeframe? (Uncheck Box Above).", type=resolution, defval="D") res = useCurrentRes ? period : resCustom HHH =iff( high > high[1], (high - lowest( high, length )) /( highest( high, length ) - lowest( high, length ) ), 0 ) LLL = iff( low < low[1],( highest( low, length ) - low ) /( highest( low, length ) - lowest( low, length ) ), 0 ) HHSa = ema( HHH, length ) * 100 LLSa = ema( LLL, length ) * 100 HHS = security(tickerid, res,HHSa) LLS= security(tickerid, res, LLSa) aa=plot( HHS, "HHS" ,color=blue,transp=0) bb=plot( LLS, "LLS" ,color=red,transp=0) hln=input(60) lln=input(10) smo=input(50,"Bands Filter length") hs=highest(max(HHS,LLS),50) lw=lowest(min(LLS,HHS),50) mh=ema(hs,20) RMSa= sum( mh*mh, smo) RMS= avg(sqrt(RMSa/smo),hln) al=ww?RMS:hln ms=ema(lw,20) MSa= sum( ms*ms, smo) MS= avg(sqrt(MSa/smo),lln) bs=ww?MS:lln col=HHS>al and HHS[2]<HHS[1] and HHS[1]>HHS and LLS<bs?1:0 cor=LLS>al and LLS[2]<LLS[1] and LLS[1]>LLS and HHS<bs?1:0 con=HHS<bs and HHS[2]>HHS[1] and HHS[1]<HHS and LLS>al?1:0 cod=LLS<bs and LLS[2]>LLS[1] and LLS[1]<LLS and HHS>al?1:0 bc=col or cod?red: cor or con?green:na a=plot(al,style=cross,color=black,transp=50) b=plot(bs,style=cross,color=black,transp=50) df=abs(HHS-LLS) cl=df>55?red : df<25?green :orange plot(his?df:na,color=cl,style=histogram,linewidth=2,transp=75) plot(HHS>al?HHS:na,style=histogram,histbase=60,color=red) plot(LLS>al?LLS:na,style=histogram,histbase=60,color=red) plot(LLS<bs?LLS:na,style=histogram,histbase=10,color=green) plot(HHS<bs?HHS:na,style=histogram,histbase=10,color=green) bgcolor(qq?bc:na,transp=80)