PROTECTED SOURCE SCRIPT
Extreme Deviation Detector [SpokoStocks]
Description:
The Extreme Deviation Detector [SpokoStocks] is designed to highlight moments when price action becomes exceptionally extreme relative to historical context. By identifying these points, the indicator serves as a valuable tool to monitor potential turning points or areas of overextension in the market. It is a non-repainting indicator.
This indicator is suitable for traders across different timeframes, helping them to better understand when the market reaches extreme conditions. It provides a simple yet effective way to stay ahead of significant price deviations.
Partial Profit Booking:
The Extreme Deviation Detector can also be a useful tool for managing partial profit booking. As the indicator highlights extreme price moves, it can help identify optimal points to lock in profits while maintaining exposure for potential further gains. By utilizing the signals provided, traders can strategically scale out of positions, reducing risk and ensuring they capitalize on major price moves.
Key Features:
> Customizable settings for ATR length, moving average type, and length.
> Alerts for extreme movements based on user-defined thresholds.
> Clean and intuitive visual representation, with signals plotted directly on the chart for ease of use.
Risk Disclaimer:
The information provided by this script is for educational and informational purposes only. It is not intended as financial advice and should not be construed as such. All trading and investment activities involve a high level of risk and may result in the loss of capital. The user is solely responsible for any decisions made based on the content provided by this script.
By using this script, you acknowledge and agree that you use it at your own risk. The creator of this script makes no warranties regarding the accuracy, completeness, or reliability of the information, and disclaims any responsibility for any losses or damages arising from its use.
Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
The Extreme Deviation Detector [SpokoStocks] is designed to highlight moments when price action becomes exceptionally extreme relative to historical context. By identifying these points, the indicator serves as a valuable tool to monitor potential turning points or areas of overextension in the market. It is a non-repainting indicator.
This indicator is suitable for traders across different timeframes, helping them to better understand when the market reaches extreme conditions. It provides a simple yet effective way to stay ahead of significant price deviations.
Partial Profit Booking:
The Extreme Deviation Detector can also be a useful tool for managing partial profit booking. As the indicator highlights extreme price moves, it can help identify optimal points to lock in profits while maintaining exposure for potential further gains. By utilizing the signals provided, traders can strategically scale out of positions, reducing risk and ensuring they capitalize on major price moves.
Key Features:
> Customizable settings for ATR length, moving average type, and length.
> Alerts for extreme movements based on user-defined thresholds.
> Clean and intuitive visual representation, with signals plotted directly on the chart for ease of use.
Risk Disclaimer:
The information provided by this script is for educational and informational purposes only. It is not intended as financial advice and should not be construed as such. All trading and investment activities involve a high level of risk and may result in the loss of capital. The user is solely responsible for any decisions made based on the content provided by this script.
By using this script, you acknowledge and agree that you use it at your own risk. The creator of this script makes no warranties regarding the accuracy, completeness, or reliability of the information, and disclaims any responsibility for any losses or damages arising from its use.
Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
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