Broadening Formations [TFO]

This indicator highlights deviations from broadening formations (or megaphone patterns). Deviations from broadening ranges can often foreshadow reversals, especially in consolidation phases. These deviations are highlighted via trendlines that change color when tested, and also have the option to be alerted.

These broadening formations are heavily used with "The Strat" and can add confluence when looking for reversals within higher timeframe points of interest.

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Minor update so that users can change default line style and width