Price Action HiLo Indicator R1

//@version2

study("Price Action HiLo Indicator R1 by JustUncleL", shorttitle="PACHiLo by JustUncleL", overlay=false)

//
// Version: R1
// Author : JustUncleL
// Date:    12-Jan-2017
//
// Description:
//   This study indicates Price Action of a HiLo (12ema) channel and centre line close(10ema).
//
// Reference:
//
// Modifications:
//
src=input(close, title="PAC Centre Source")
pacLenL=input(12, title="PAC lower line")
pacLenC=input(10, title="PAC Center Length")
pacLenU=input(12, title="PAC upper line")
//
pacU=ema(high,pacLenU)
pacC=ema(src,pacLenC)
pacL=ema(low,pacLenL)

pacE = ( (pacU > pacU[1]) and (pacC > pacC[1]) and (pacL > pacL[1]) and (close > pacL) ) ? ( ((pacU-pacC)<(pacC-pacL)) ? 1 : 0.1 ) :
  ((pacU < pacU[1]) and (pacC < pacC[1]) and (pacL < pacL[1]) and (close < pacL)) ? ( ((pacU-pacC)>(pacC-pacL))? -1 : -0.1 ) : 0.05

pColor =pacE>0.2? blue: pacE<-0.2?red: pacE>0.09?aqua: pacE<-0.09? orange: gray
plot(pacE,color=pColor,style=histogram,transp=20,linewidth=4)

// eof