Diamonds

9 בספט׳ 2022

✋ Experimental script where a diamond shape is created by making 4 lines around each bar which touches the edge of the bar.



𒀸 Example of how it works:
      Create the left upper line:
      

• A) Calculate middle of the bar
        
• B) Calculate which one is highest -> close or open
        
•     'Draw' imaginary line from A to B (A starts 1 bar back)
        
•      Adjust height of A by adding 2/3 of the difference between A & B
      𒓕 That's it!
  

𒀸 This technique can be developed further by anyone who's inspired.
     •  For now, I've just added an option where you can extend 2 lines of 1 specific bar
        𒓕 Settings ➺ extend lines ➺ toggle on/off ➺ type ➺ which bar back


𒀸 X bars back sets the max bars in history
    •  Since this script uses line.new()  , this results in maximum 500 lines to be drawn.
        Each Diamand Bar contains 4 lines, resulting in maximum 125 Diamond Bars.

𒀸 Standard Candles ~ Diamond Bars



Cheers!