Sorry, the name of this may be misleading. This is really about a long timeframe breakout box. Looking to place on 4 hour chart with analysis from previous week.
I'm looking to take analysis of a specific time the previous week, and build a breakout box or support-resistance lines in the following week
So...
I'm looking for an indicator that will draw a channel, based upon the highest high and lowest low of the last X bars from a specified start day of week and time, and extend that channel only Y bars.
I've seen a number of box breakout type indicators that almost fit the bill, but I'm looking for something to place on a 4 hour chart, and I'm looking to extend over the length of a week. I haven't found a box breakout system that works breaking the single day barrier, let alone handles analysis in a previous week, and plot in the following week.
So, I'm wondering if anyone has seen such an indicator -- or something that could be easily adapted. My searches so far haven't produced anything that will work.
Alternatively, my thought is that this could be done with two trendlines. One for highest high, one for lowest low. User inputs a day of the week and time to make evaluation and specifies how many candles to count backward and forward -- or otherwise specify start and stop times.
I've actually got some simplified code for the actual drawing of the trendlines, but managing the time inputs is too complicated for me to figure out in the time I have to work on this. So, any help would be much appreciated
I'm looking to take analysis of a specific time the previous week, and build a breakout box or support-resistance lines in the following week
So...
I'm looking for an indicator that will draw a channel, based upon the highest high and lowest low of the last X bars from a specified start day of week and time, and extend that channel only Y bars.
I've seen a number of box breakout type indicators that almost fit the bill, but I'm looking for something to place on a 4 hour chart, and I'm looking to extend over the length of a week. I haven't found a box breakout system that works breaking the single day barrier, let alone handles analysis in a previous week, and plot in the following week.
So, I'm wondering if anyone has seen such an indicator -- or something that could be easily adapted. My searches so far haven't produced anything that will work.
Alternatively, my thought is that this could be done with two trendlines. One for highest high, one for lowest low. User inputs a day of the week and time to make evaluation and specifies how many candles to count backward and forward -- or otherwise specify start and stop times.
I've actually got some simplified code for the actual drawing of the trendlines, but managing the time inputs is too complicated for me to figure out in the time I have to work on this. So, any help would be much appreciated