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Hi-Lo Trend

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This script uses the most recent low/high and candle size to determine trend breakouts.

The trend is determined buy whether the most recent price extreme within the Lookback period is a high or low. If it is a most recent high, it is an uptrend, if it is a lwo, a downtrend.

Bands are created using the average absolute difference of current minus previous close over the MABandPeriod, multiplied by the MABandMultiplier.
If the current close minus previous close is above/below the band, then a blue dot is painted and it is a breakout.

a buy alert fires when a downtrend becomes an uptrend and a breakout above the bands happens.

A sell alert fires when an uptrend becomes a downtrend and a breakout below the bands happns.
Nota Keluaran
added some comments : )

Penafian

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