This indicator can be shown by the number of bars with consecutive higher closing prices over a period of time. The maximum value is equal to the period. The default period value is 12. Thresholds used with this period are 3, 6, and 9. A drop below 3 suggests an approaching low, and a crossover above 9 warns about an upcoming top. In this period, 6 is a neutral value and represents the borderline separating uptrends and downtrends.
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Just change the chart layout from Heiken Ashi to Candle. Upgrade Script to Version 5.
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It has got a minor change. The name was shown at the top of the indicator was changed to "ARKA-Psychological Line".
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Just I updated the chart layout for publishing.
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In this version, the color of the line changes with an ascending and descending motion. It is blue for ascending mode and red for descending mode. The state of suffering is gray. An alert feature has also been added. In the ascending movement, after passing the number 8, and for the descending state, below the number 4, they are marked with a sign.
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A minor issue was fixed. Now level color can be changed by the user.