Dual-Box XO Indicator for Short- and Long-Term Price Trends

Summary

The XO indicator tracks price movement using two box sizes. Its histogram counts upward and downward moves measured with the smaller box, while separate lines show moves measured with the larger box. The author compares this counting approach to tracking Renko bricks, so both shorter and longer price movements appear in one indicator.

The document provides ProRealTime code and identifies the price input and configurable box sizes. It explains the intended visual interpretation but supplies no test results, trading rules, or evidence that the indicator predicts returns. The code is presented as a conversion of an earlier MT4 indicator, and the description does not discuss parameter selection, asset suitability, or how to handle false signals. The larger-box calculations also appear to use the smaller box size when setting some bounds, a detail worth checking before relying on an implementation.

Key ideas

• The indicator counts price advances and declines after they cross thresholds based on configurable box sizes.
• The histogram represents movement counted with the smaller box size.
• The lines represent movement counted with the larger box size, combining two trend horizons in one display.
• The document explains indicator construction but provides no performance tests or rules for trading its signals.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.