Lookback Sequential

Lookback Sequential Indicator - Summary

The Lookback Sequential indicator is a momentum-based tool that tracks price trends using a counting system. It compares the current closing price with the closing price from a user-defined number of bars ago (lookback period).

If the current close is higher than the close from the lookback period, the counter increments (bullish trend).
If the current close is lower, the counter resets to 1 and starts counting again (bearish trend).
Key Features:
Customizable Colors – Bullish numbers appear in a user-defined color (e.g., green), and bearish numbers in another (e.g., red).
Dynamic Placement – The numbers are displayed below the candle in an uptrend and above in a downtrend to visually differentiate trends.
Resets at 1 – When the price trend reverses, the counting sequence resets, ensuring accurate tracking of price momentum.
This indicator helps traders identify market trends, potential reversals, and momentum strength in a simple, visual format.