PROTECTED SOURCE SCRIPT
Daily Range Exhaustion Signal
This tool plots the average true range distance from each bar's open, up and down, so you can tell when a bar moves by more than the average distance a day's range usually travels. It's an interesting concept, but not something I use a lot of the time. Looking at the range relative to the last bar's range, is what I normally do to find bouts of strength or weakness, and to determine if these moves have follow through or not.
You may experiment with this indicator to see if it helps in your price action analysis. Usually, bigger than 1 ATR moves don't keep going for much more, unless there's some outrageous news related to the move.
This idea came from a conversation with Yacine Kanoun here, and I coded it into an indicator.
Credit where credit is due (right Yacine?)...
Cheers,
Ivan Labrie.
You may experiment with this indicator to see if it helps in your price action analysis. Usually, bigger than 1 ATR moves don't keep going for much more, unless there's some outrageous news related to the move.
This idea came from a conversation with Yacine Kanoun here, and I coded it into an indicator.
Credit where credit is due (right Yacine?)...
Cheers,
Ivan Labrie.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya secara bebas dan tanpa apa-apa had – ketahui lebih di sini.
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 dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya secara bebas dan tanpa apa-apa had – ketahui lebih di sini.
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.