Consecutive Up/Down Bar Labels

The likelihood of mean reversion increases with consecutive days in a particular direction.

This indicator plots a signal, with increasing brightness, once a stock has had 3 or more days moving in one direction, and peaks at 7 days (i.e. if it has moved in the same direction for more than 7 days, the signal remains at the same max intensity).

The signals are plotted as dots above (for up days) or below (for down days) the bar.