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Hello,
I need an indicator that gives me the balance of power (unsmoothed!) according to this formula:
BOP = (Close Price - Open Price) / (High Price - Loe Price)
The indicator has to run in a separate window below the chart and the result is to be displayed as a bar between 1 and -1. (image 1)
It must also be possible to enter two limit values (up and down). If the limit value Up is exceeded, the bar in the indicator window should be highlighted in color and if the value falls below Down, too.
In addition, an alarm is to be triggered if a down follows an up directly or if an up follows an down directly. And the bars have to behighlighted in in the indicator window. (image 2)
In addition, the well-known Supertrend indicator should be shown on the chart, but the Supertrend curve should be shown on both sides of the price at the same time.
So if the price rises, not only the value below the curve, but also the value above it. It must be possible to hide the Supertrend functionality as a whole. (image 3)