PA ScratchiCloud v2
I've added the central pivot (white line) for traders who like to trade mean reversion.
I've also added the hourly open so you can see which way price is trending. If price is above the hourly then look to take long breakouts. If under hourly look to take short breakouts.
I've also added the hourly open so you can see which way price is trending. If price is above the hourly then look to take long breakouts. If under hourly look to take short breakouts.
// Based on the study by Golgistain
// Modified by CharlieMax for price action scalping
study(title="HB H/L", shorttitle="PA ScratchiCloud", overlay=true)
len = input(4, minval=1, title="Length")
len2 = input(4, minval=1,title="Length")
h = highest(len)
h1 = dev(h, len) ? na : h
hpivot = fixnan(h1)
openprice = valuewhen(minute == 0, security(ticker, "60", open), 0)
l = lowest(len2)
l1 = dev(l, len2) ? na : l
lpivot = fixnan(l1)
mean = (hpivot+lpivot)/2
plot(mean, color=white, linewidth=2)
plot(hpivot, color=green, linewidth=2)
plot(lpivot, color=red, linewidth=2)
plot(openprice, color=purple, linewidth=2)