Indicator CI (Congestion Identifier). It displays within how many bars before the current one the price was within the channel formed by the Close price of the current bar +/- Delta in points. It also displays the counter value threshold level and the marks, in which the counter is above or below that level.
The indicator has three configurable parameters:
- Period - calculation period;
- Delta - up/down shift from the price in points, which forms the channel width;
- Level - threshold level of bars within the channel.
Calculations:
CI = count
where:
- count - number of bars with the Close price within corridor Close+Delta - Close-Delta.
Signals:
If PrevCI < Level and CI > Level:
Out = Level
If PrevCI > Level and CI < Level:
In = Level
- Out - signal of exceeding the Level;
- In - signal of entering back inside the Level upon having exceeded it.
