OPEN-SOURCE SCRIPT
Rabbit Hole

How deep is the Rabbit hole? Interesting experiment that finds the RISING HIGHS and FALLING LOWS and place the difference between the highs and lows into separate arrays.
== Calculations ==
In case current high is higher than previous high, we calculate the value by subtracting the current highest high with the previous High (lowest high) into array A,
same method for the lows just in Array B.
Since we subtract highs and lows it means velocity is taken into consideration with the plotting.
After adding a new value we remove the oldest value if the array is bigger than the Look back length. This is done for both lows and highs array.
Afterwards we sum up the lows and highs array (separately) and plot them separately, We can also smooth them a bit with Moving averages like HMA, JMA, KAMA and more.
== RULES ==
When High Lines crosses the Low Line we get a GREEN tunnel.
When Low Lines crosses the High line we get the RED tunnel.
The Greenish the stronger the up trend.
The Redish the stronger the downtrend.
== NOTES ==
Bars are not colored by default.
Better for higher time frames, 1 hour and above.
Enjoy and like if you like!
Follow up for new scripts: tradingview.com/u/dman103/
== Calculations ==
In case current high is higher than previous high, we calculate the value by subtracting the current highest high with the previous High (lowest high) into array A,
same method for the lows just in Array B.
Since we subtract highs and lows it means velocity is taken into consideration with the plotting.
After adding a new value we remove the oldest value if the array is bigger than the Look back length. This is done for both lows and highs array.
Afterwards we sum up the lows and highs array (separately) and plot them separately, We can also smooth them a bit with Moving averages like HMA, JMA, KAMA and more.
== RULES ==
When High Lines crosses the Low Line we get a GREEN tunnel.
When Low Lines crosses the High line we get the RED tunnel.
The Greenish the stronger the up trend.
The Redish the stronger the downtrend.
== NOTES ==
Bars are not colored by default.
Better for higher time frames, 1 hour and above.
Enjoy and like if you like!
Follow up for new scripts: tradingview.com/u/dman103/
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Appreciation of my work: paypal.me/dman103
All Premium indicators: algo.win
LIVE Stream - Pivot Points Algo: youtube.com/channel/UCFyqab-i0xb2jf-c18ufH0A/live
All Premium indicators: algo.win
LIVE Stream - Pivot Points Algo: youtube.com/channel/UCFyqab-i0xb2jf-c18ufH0A/live
Aviso legal
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Appreciation of my work: paypal.me/dman103
All Premium indicators: algo.win
LIVE Stream - Pivot Points Algo: youtube.com/channel/UCFyqab-i0xb2jf-c18ufH0A/live
All Premium indicators: algo.win
LIVE Stream - Pivot Points Algo: youtube.com/channel/UCFyqab-i0xb2jf-c18ufH0A/live
Aviso legal
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.