OPEN-SOURCE SCRIPT
CSR Ultimate (Final)
This indicator calculates and displays a "Candle Strength Ratio" (CSR) to help you gauge bullish versus bearish momentum on a given timeframe. Here’s what it does:
*Multiple Calculation Methods:*
*You can choose among three different methods:*
-Classic CSR: Compares the difference between the upper and lower parts of the candle relative to its total range.
-Weighted Body CSR: Gives more weight to the candle’s body relative to its wicks.
-Close-Focused CSR: Focuses on the net movement from open to close relative to the full range.
*Optional Enhancements:*
The indicator allows you to enable additional features to refine it:
-Volume Weighting: Adjusts the CSR based on the ratio of current volume to a moving average of volume, so a candle on higher-than-average volume might carry more weight.
-ATR Normalization: Normalizes the CSR using the Average True Range (ATR) to account for market volatility.
-Multi-Bar Averaging: Averages the CSR over a specified number of bars to smooth out noise.
-RSI Filter: Optionally checks an RSI condition (bullish if RSI > 50 or bearish if RSI < 50) to help filter out signals that might not be supported by overall momentum.
*Visual and Alert Features:*
The indicator plots the CSR line with color coding (green for bullish, red for bearish) and draws horizontal threshold lines. It also adjusts the chart background color when the CSR exceeds defined bullish or bearish levels and provides alerts when these thresholds are crossed.
*Multiple Calculation Methods:*
*You can choose among three different methods:*
-Classic CSR: Compares the difference between the upper and lower parts of the candle relative to its total range.
-Weighted Body CSR: Gives more weight to the candle’s body relative to its wicks.
-Close-Focused CSR: Focuses on the net movement from open to close relative to the full range.
*Optional Enhancements:*
The indicator allows you to enable additional features to refine it:
-Volume Weighting: Adjusts the CSR based on the ratio of current volume to a moving average of volume, so a candle on higher-than-average volume might carry more weight.
-ATR Normalization: Normalizes the CSR using the Average True Range (ATR) to account for market volatility.
-Multi-Bar Averaging: Averages the CSR over a specified number of bars to smooth out noise.
-RSI Filter: Optionally checks an RSI condition (bullish if RSI > 50 or bearish if RSI < 50) to help filter out signals that might not be supported by overall momentum.
*Visual and Alert Features:*
The indicator plots the CSR line with color coding (green for bullish, red for bearish) and draws horizontal threshold lines. It also adjusts the chart background color when the CSR exceeds defined bullish or bearish levels and provides alerts when these thresholds are crossed.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.