DayTradingOil

Price Predictor

Greetings Traders! I have decided to release a few scripts as open-source as I'm sure others can benefit from them and perhaps make them better.(Be sure to check my Profile for the other scripts as well: https://www.tradingview.com/u/DayTrading...).
This one is called Price Predictor.

How To Use Price Predictor
Price Predictor acquires potential targets by measuring the Average Change of Price from a user-defined resolution, from Open to Open. By default, the Resolution is set to 1 Day, however you can play around with Weekly, Monthly, etc. When a new resolution period begins, Price Predictor will automatically adjust based on the new Average Change of Price.

Due to the avoidance of Security() in this script, you may have to play around with the Timeframe that you use it in to ensure that you have enough bars on your chart to process the User-Defined Resolution.

The first Target Zone represents Target 5 of my other script, Trade Manager(https://www.tradingview.com/script/M926e...)(Given that you set the Target Multiple and Default Threshold Inputs as the same in each script), and is the most likely to be hit before the end of the resolution period.

In addition to a User-Defined Resolution, you also have the option of using a Custom Price to define Target Zones, however I'd recommend using my other script, Trade Manager(https://www.tradingview.com/script/M926e...), if the volatility of the Instrument isn't too high.

I wanted to give a Special Thanks to @Pinecoders for the Custom RoundToTick Function from The Backtesting/Trading Engine --> (
If you like Price Predictor, be sure to Like, Follow, and if you have any questions, don't be afraid to drop a comment below.
Catatan Pelepasan: Updated Code Readability
Catatan Pelepasan: Updated Chart Background Image
Skrip sumber terbuka

Dalam semangat TradingView yang sebenar, penulis skrip ini telah menerbitkannya dengan menggunakan sumber terbuka supaya pedagang-pedagang dapat memahami dan mengesahkannya. Sorakan kepada penulis! Anda dapat menggunakannya secara percuma tetapi penggunaan semula kod ini dalam penerbitan adalah dikawalselia oleh Peraturan Rumah. Anda boleh menyukai skrip ini untuk menggunakannya pada carta.

Ingin menggunakan skrip ini pada carta?

Komen

great indicator!! any advice for shorter TFs? which resolution should work better for 5-10min candles? how do you filter your entries? above/below green-red lines or within that zone? thank you in advance. great job
Balas
Hi @al_va_ro,
I typically use the default "Daily" Resolution for Targets when using 5 min charts, and I like to use "Weekly" Resolution for Targets when using 15 min charts.I typically do not use lower than 1 Day Resolution. This script calculates the average % change of an instrument from open to open of the resolution you provide in the settings. I use the targets provided by Price Predictor as approximations and my main methodology of trading is to use the Initial Balance range breakout to calculate positions, stops, targets, etc. Thanks for the feedback!
-DayTradingOil
Balas
man, im really liking your style.. its very very similar to mine.. in terms of finding areas to trade from.. very nice.,. in ALL you do!!!
Balas
DayTradingOil btcwrecked
@btcwrecked, Thank you for the kind words!
+1 Balas
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