NOTE: This is public use - open source version of GLB published by me in Sep 2020. As Trading View is not allow unprotect script already shared, I am sharing it for anyone to use the script and make a copy. ======== This is an implementation of Green Line Breakout ( GLB ) which is popularized by Eric Wish through his Wishing Wealth Blog.
GLB indicator looks at a monthly chart for a stock that hit a new all time high recently and draw a green horizontal line at the highest price reached at any month, that has not been surpassed for at least 3 months.
In other words, this method finds stock that reached an all-time high and has then rested for at least three months. When a stock moves through the green line or is above its last green line, it is an indication of strong buying interest.
Read more about how to use the indicator in Wishing Wealth Blog.
Usage Explanation: 1. Set the time frame to Monthly for a stock and automatically a green dashed line appears based on the calculation explained above 2. If no GLB found for a stock, then green line appears at 0.0 2. If you set any other time frame other than Monthly, no Green Dashed line shown
Thank you for this, but can you use it for other time frames now? If not do I just change it everywhere it says month in the script to whatever time frame I am using?
drmohs
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Thanks I have been using your GLB for a month now. Very helpful. I think would be great if GLB stays on weekly as well as daily. I find it I have to add Trend line at same GLB indicator so my tend line will show on daily and weekly time frame as same GLB indicator level. So it will become optional to the user. I really thank you for the effort brother. Thanks