// Downloaded From https://www.WiseStockTrader.com
/*****************************************************************************
Name		:	Three Day Balance Points
Coded	By	:	Lal
Note		:	This is a simple idea - using the range of 
			the last three days, find the mid-point.  Price above
			this mid-point is bullish and price below, bearish.

			You can optionally mark bars to show whether they
			are above or below the balance point.  Also included is
			an explorer to highlight stocks with a new close 
			above/below the balance point.
*****************************************************************************/



Bal_Days	=	Param("Days for Balance Point", 3, 2, 10, 1);
Mark_Bars	=	ParamToggle("Mark Bars?", "No|Yes", 0);
Plottype 	=	ParamList("Price Plotstyle ", "Stylebar|StyleCandle");

SetChartBkGradientFill(ParamColor("Top", colorTeal), ParamColor("Bottom", colorLightGrey), ParamColor("Title", colorTeal));
SetChartBkColor(ParamColor("Chart Background", colorWhite));

// Find the High and Low of said period
Period_High =	HHV(H, Bal_Days);
Period_Low	=	LLV(L, Bal_Days);

Balance_Point=	Period_High - (Period_High - Period_Low)/Bal_Days;
Current_BP	=	Ref(Balance_Point, -1);	// For the current day, we need the BP as worked out at close yesterday!

Price_Style	=	IIf(Plottype == "Stylebar", styleBar, styleCandle);
Plot(C, "Close", ParamColor("Bar Color", colorBlack), Price_Style|styleThick);
Plot(Current_BP, "Current BP", ParamColor("BP Color", colorRed), styleStaircase);
Plot(Balance_Point, "Next Day's BP", colorBrown, styleNoDraw);

// Optional Visual Marking of bars above/below the Balance Point
if(Mark_Bars)
{
PlotShapes(shapeSmallCircle * (C < Current_BP), colorRed, 0, H, 12);
PlotShapes(shapeSmallCircle * (C > Current_BP), colorBlue, 0, L, -12);
}

//Explorer section
Close_Up		=	C > Current_BP;
New_Close_UP	=	Close_Up AND NOT Ref(Close_Up, -1);

Close_Dn		=	C < Current_BP;
New_Close_DN	=	Close_Dn AND NOT Ref(Close_DN, -1);

AddColumn(New_Close_Up, "New_Close_Up", 1, colorWhite, IIf(New_Close_Up, colorGreen, colorWhite));
AddColumn(New_Close_Dn, "New_Close_Dn", 1, colorWhite, IIf(New_Close_Dn, colorRed, colorWhite));
Filter = New_Close_Up OR New_Close_Dn;