Market Cycle indicator

Market Cycle indicator

Postby Dewey McG » Sat May 09, 2015 6:18 pm

I need some help with an indicator please. Hopefully this will be easy enough but I wouldn’t know since I am not a coder.

This idea is to make it easier to see market cycles on your charts.

A market cycle (up) is identified when the price breaks a resistance and its start is defined by the last lower low before the break. See PIC 1. In this example we can see that this cycle up was detected at 23:47 but its starting point was at 23:44.

A market cycle down is identified when the price breaks a support and its start is defined by the last higher high before the break. See PIC 2. In this example we can see that this cycle down was detected at 23:25 but its starting point was at 23:16.

On both examples we can see 2 lower lows at the same level and 2 higher highs at the same level on the second example. On those situations the strategy will always pick the last one to occur.

On the chart, cycles should be drawn as rectangles and the color coded (light shade of green for up cycles and light shade of pink for down cycles along with a display of the size of the move. See PIC 3 and PIC 4
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Market Cycle indicator

Postby Lowphat » Sat May 09, 2015 7:05 pm

this one is just zigzag but its still kinda cool
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Market Cycle indicator

Postby magero » Thu Jun 10, 2021 2:41 pm

ty, very nice one! :good:
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Market Cycle indicator

Postby rozmer » Fri Jun 11, 2021 9:43 am

Thank You Lowphat.
This indi really helps on the visual aspect of the waves.

Regards
Rozmer :hi:
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