Hilo Modified
The Hilo Modified indicator tracks price trends by plotting the highest high and lowest low prices over a defined period. It assists traders in identifying potential trend reversals or continuations. Integrating Amibroker data feed enhances Hilo Modified analysis, providing real-time market information essential for accurate identification of pivotal price levels and making informed trading decisions.
/_SECTION_BEGIN("HiLo modified");
K = Param("K",3,1,25,1,0);
per = Param("per",6,1,10,1);
filt = ATR(per)*k ;
Lo = 0;
Hi = H + 2*filt;
for(i = 2; i < BarCount; i ++)
{
if(i == 2) trend[1] = 1;
if(trend[i-1] == 1)
{
LoN = C[i] - filt[i];
if(LoN > Lo[i-1])
{
Lo[i] = LoN;
}
else
{
Lo[i] = Lo[i-1];
}
if(L[i] < Lo[i])
{
trend[i] = 0;
Hi[i] = L[i] + filt[i];
}
else trend[i] = 1;
}
if(trend[i-1] == 0)
{
HiN = C[i] + filt[i];
if(HiN < Hi[i-1])
{
Hi[i] = HiN;
}
else
{
Hi[i] = Hi[i-1];
}
if(H[i] > Hi[i])
{
trend[i] = 1;
Lo[i] = H[i] - filt[i];
}
else trend[i] = 0;
}
}
Hi = IIf(!trend, Hi, Null);
Lo = IIf(trend, Lo, Null);
UpDw=Flip( Hi, Lo );
Color = IIf(UpDw, colorRed, colorBlue);
HiLoLine = IIf(UpDw, Hi, Lo);
Plot(Close,"",IIf(C>=Ref(C,-1),colorGreen,colorRed),styleCandle);
Plot(HiLoLine, "Hi Lo Line", Color, styleStaircase);
_SECTION_END();