Ectopic Bar is an indicator that highlights a pin-bar candle that has divergence in it's shape and volume delta. To find volume delta, code of standard Up/Down volume indicator has been used. PIN BAR : pin bar are marked by using Close Range option parameter. Default value is set to 0.35 which implies any candle that closes in the 35% of its high/low will be...
//DESCRIPTION //Pluto star appears on a chart when price goes in the in the extreme price range territory, i.e. beyond 2 standard deviation from the mean (or mid Bollinger Band). //What makes a Pluto Star appear on a chart: //1. Check if the candle 's' high and low, both are completely outside of the Bollinger Bands (close, 20, 2) - Lets call it Pluto Star...
//Pin Bar at the edge of BB //Conditions to check // 1. It must be a Pin Bar // 2. Price Above/Below 200 SMA // 3. Volume must be above 20 SMA // 4. Low/High of the Pin Bar must cut across the BB upper/lower band // 5. The very next candle closes above/below the high/low of the pin bar candle Recommended timeframe - Daily and Weekly