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Winning and Losing Streak Count

This is a very simple way to keep track of the number of consecutive winning or losing days for a stock. This way you can see what the odds are for continuation lower.

Losing streak indicator:

declare lower;

def i;

if (close < close[1]){
i = i[1] + 1;
} else {
i = 0;
}

plot streak = i;

Winning streak indicator:

declare lower;

def i;

if (close > close[1]){
i = i[1] + 1;
} else {
i = 0;
}

plot streak = i;

An example chart:

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