OPEN-SOURCE SCRIPT
Atualizado [KL] Relative Volume Strategy
This strategy will Long when:
It exits when either (a) stop loss limit is reached, or when (b) price actions suggest trend is bearish.
<Note 1> Measuring price volatility to assume consolidation:
For each candlestick, we quantify price volatility by referring to the value of standard deviations (2x) of closing prices over a look-back period of 20 candles. This is exactly what the Bollinger Band (“BOLL”) indicates by default.
Knowing the value of standard deviation (2x) of prices (aka the width of lower/upper BOLL bands), we then compare it with ATR (x2) over a user-defined length (can be configured in settings). Volatility is considered to be low, relatively, when the standard deviation (x2) of prices is less than ATR (2x).
- Confirmation #1: when volume is relatively high
- Confirmation #2: during periods of price consolidation (See <Note 1>)
It exits when either (a) stop loss limit is reached, or when (b) price actions suggest trend is bearish.
<Note 1> Measuring price volatility to assume consolidation:
For each candlestick, we quantify price volatility by referring to the value of standard deviations (2x) of closing prices over a look-back period of 20 candles. This is exactly what the Bollinger Band (“BOLL”) indicates by default.
Knowing the value of standard deviation (2x) of prices (aka the width of lower/upper BOLL bands), we then compare it with ATR (x2) over a user-defined length (can be configured in settings). Volatility is considered to be low, relatively, when the standard deviation (x2) of prices is less than ATR (2x).
Notas de Lançamento
Bug fixed (exit message showing "stop loss" or "take profit")Notas de Lançamento
Improved conditional statements to determine bearish engulfing candlesticks.Notas de Lançamento
- improved price action indicators- modified entry condition, requires the current candlestick to be strong in support, or at least not work as bare minimum (as per price action indicators)
Notas de Lançamento
Fixed bugs, and refactored codes.Notas de Lançamento
Values of parameters can now be further customized in settings.Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.