Hello!
Could you, please, code a histogram MT4 indicator that shows the bull and bear strength?
It would be great if there were two settings: Absolute Strength and Percentage Strength.
If you could also include a setting that allows showing only the bull strength, only the bear strength, and both on one histogram.
Here is how I would like to define the strength of Bull and Bear
Bull Strength: Close - Low
Bear Strength: High - Close
Absolute Strength: Bull or Bear Strength in terms of points
Example. Bull Strength 10 points, Bear Strength 10 points.
Percentage Strength: Bull or Bear Strength in terms of % of (H-L).
Example. Bull Strength 50% of H-L, Bear Strength 50% of H-L
For the histogram setting that shows both bull and bear strength, if it could look similar to the image attached- showing Red for Bear Strength and Cyan for Bull Strength.
For the histogram setting that shows only one of bull or bear strength, could the histogram only have values above 0 (only the top histogram line, to allow for running a moving average on top of the indicator if desired).
Example. Only Bull or Bear Strength Absolute Strength: the histogram would have a bar with a value of 10.
Thank you so much,
Please let me know if you have any questions.
Tom