OPEN-SOURCE SCRIPT
Updated Opposing Boner Takeouts
Uses Heikin Ashi bar logic. If a bull heikin takes out the high of the last X bear bars, a buy is indicated. Reverse conditions for sells. Optional plotting of highs and lows of opposite colors and a few emas for trend context.
Release Notes
Looks for heikin ashi bars to take out x bars of the opposite color, then indicates a buy or sell. Optional plotting of takout levels and a few emas for trend context. Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
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.