Studies · Momentum
Psychological Line
psychologicalLine · The percentage of the last n bars that closed up
Drawn in its own panelReads one column (close here)Guide lines at 25, 75
Hover the chart to read values · practice data: a seeded random walk with no overnight gaps
What it measures
The percentage of the last N bars that closed higher than the bar before. It ignores how big the moves were and only counts which way they went.
How traders use it
- Above 75 is read as over-optimistic, below 25 as over-pessimistic, both as contrarian signals.
- A quick gauge of how persistent a move has been.
Parameters
| Name | Value | Default | Allowed | What it does |
|---|---|---|---|---|
| period | 12 | ≥ 1 usual 5–30 | Number of bars counted. |