today I would like to share an indicator that I had in my mind for quite some time. I call it Boxes.
How does it work?
What the indicator does is very simple. Whenever the falls below a certain threshold (which can be managed in the user input settings) a box will appear. The box will continue to grow as long as the stays below the threshold. Once the goes back above the threshold, the box will stop growing and will set its right border.
There are two modes, which can be used to determine the upper and lower border of the box. The first one is called "Extremes", which plots the borders the highest high and lowest low for the range below the threshold. The second one is called "Avg. High/Low", which plots the borders at the average high and average low within the range.
Furthermore, the indicator contains an option to show the average value of the detected range below the threshold.
Just like all my other indicator scripts, this one comes with different styling options for boxes in progress, settled boxes and the average value.
Hopefully, some of you find it useful.
Make sure you leave a follow and a like :)