Description
The indicator REA_Structure draw the continuous structure of the market on the graph, using an average of the highs and lows multiplied by the ATR to create the colored channel. The latter changes color every time a pullback occurs with the total number of candles entered in the parameters and the upper and lower lines are exchanged. When the channel is green and the upper line is green then the structure is bullish, on the contrary if the channel is red and the red line is above then the structure is bearish.
Parameters
- ATR Period: Set the ATR periods.
- ATR Multiplier: Enter a multiplier value to increase the distance of the lower and upper bands.
- ATR MA type: Select the Moving Average time for ATR calculation.
- Min PullBack: Enter the minimum number of candles to count to consider the pullback.
- Colorize Bars: Activate or deactivate the candle color change with Yes or No.
Lines
- Select the color for each line drawn in the chart.