Library "LocalLimit" Calculates the local upper or local lower limit for a given series. Applying multiple passes produces what appears like support or resistance levels. See Local Limits for more detail.
upper(src) Produces the recent local upper limit for a given series. Parameters: src: The source series to derive from.
lower(src) Produces the recent local lower limit for a given series. Parameters: src: The source series to derive from.
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v2 Added option for padding.
Updated: upper(src, padding) Produces the recent local upper limit for a given series. Parameters: src: The source series to derive from. padding: Gives some extra room when lowering the level.
lower(src, padding) Produces the recent local lower limit for a given series. Parameters: src: The source series to derive from. padding: Gives some extra room when raising the level.
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v3 Fixed issue with na padding causing nothing to show.
Added: trend(src) Determines the local trend of a series that and persists the trend if the value is unchanged. Parameters: src: The source series to derive from. @return +1 when the trend is up; -1 when the trend is down; 0 if the trend is not yet established.
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v7
Added: valueAndTrend(src) Creates a Limit object that contains the value and the trend. Parameters: src: The source series to derive from.
of(level, padding) Creates a Level object representing the local upper and lower limits. Parameters: level: The source levels to expand of. padding: Gives some extra room when raising the lower level and lowering the upper level.