[RS]Average Expansion Dynamic V0
EXPERIMENTAL: calculation of extremes and price range for averaging movement.
while price is above market is rising, when bellow market is falling. also can discern strength from the gap of the averages.
while price is above market is rising, when bellow market is falling. also can discern strength from the gap of the averages.
study(title='[RS]Average Expansion Dynamic V0', overlay=true) window = input(title='Interval Window:', type=integer, minval=1, defval=5) multiplier = input(title='Average Multiplier:', type=float, minval=0.01, maxval=0.99, defval=0.5) h = valuewhen(high >= highest(window), high, 0) l = valuewhen(low <= lowest(window), low, 0) rising_falloff = l + ((highest(window)-l)*multiplier) falling_falloff = h - ((h-lowest(window))*multiplier) plot(title='High Extreme', series=h, color=h!=h[1]?na:black) plot(title='Low Extreme', series=l, color=l!=l[1]?na:black) p_dp = plot(title='+ Decay', series=rising_falloff, color=rising(rising_falloff, window)?green:silver) p_dn = plot(title='- Decay', series=falling_falloff, color=falling(falling_falloff, window)?maroon:silver) fill(p_dp, p_dn, color=blue, transp=75) //buy = max(close, falling_falloff)-falling_falloff //sel = min(close, rising_falloff) - rising_falloff //plot(title='+ Decay', series=buy, style=line, color=green, linewidth=1) //plot(title='- Decay', series=sel, style=line, color=maroon, linewidth=1) //plot(title='+ Decay', series=buy, style=histogram, color=green, linewidth=2) //plot(title='- Decay', series=sel, style=histogram, color=maroon, linewidth=2)