OPEN-SOURCE SCRIPT
Custom Log 21 Week SMA
The Custom Log 21 Week SMA (CL21SMA) indicator is a custom technical analysis tool that calculates and plots the log values of the asset's price relative to its 21-week simple moving average (SMA). This indicator can be used to identify potential trends and price deviations from the moving average.
The CL21SMA indicator performs the following calculations:
Compute the 21-week simple moving average (SMA) of the asset's closing price.
Calculate the log values by dividing the closing price by the 21-week SMA and then taking the base-10 logarithm of the result.
Plot the log values on the chart.
The CL21SMA indicator can help traders to:
Identify potential trends: A positive log value suggests that the price is above the 21-week SMA, indicating a potential uptrend. Conversely, a negative log value implies that the price is below the 21-week SMA, suggesting a potential downtrend.
Detect price deviations: Significant deviations from the 21-week SMA, as indicated by the log values, may highlight potential overbought or oversold conditions, which could prompt traders to take appropriate positions.
Please note that the CL21SMA indicator is best suited for longer-term analysis and should be used in conjunction with other technical indicators and trading strategies to improve the overall decision-making process.
The CL21SMA indicator performs the following calculations:
Compute the 21-week simple moving average (SMA) of the asset's closing price.
Calculate the log values by dividing the closing price by the 21-week SMA and then taking the base-10 logarithm of the result.
Plot the log values on the chart.
The CL21SMA indicator can help traders to:
Identify potential trends: A positive log value suggests that the price is above the 21-week SMA, indicating a potential uptrend. Conversely, a negative log value implies that the price is below the 21-week SMA, suggesting a potential downtrend.
Detect price deviations: Significant deviations from the 21-week SMA, as indicated by the log values, may highlight potential overbought or oversold conditions, which could prompt traders to take appropriate positions.
Please note that the CL21SMA indicator is best suited for longer-term analysis and should be used in conjunction with other technical indicators and trading strategies to improve the overall decision-making process.
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.