OPEN-SOURCE SCRIPT
Atualizado Digital Nivesh Out of Range Trade Indicator
This indicator is for intraday with the basic logic that any script will always trade in its range.
So , if any script moves away from its range, it will try to come back to its normal range movement.
Suppose average movement of any share is 100 points, and share has moved more than 150 points there is high probability that it will move in opposite direction in order to have average movement of price of 100.
For Stocks please use average period as 15 days for index 30 days.
If share price(YELLOW LINE) moves away from higher or lower blue line, then with the help of volume confirmation a trade can be initiated in opposite direction.
Please note direction needs to be opposite of what has happened in the day.
for eg. upper blue line could be broken , in both situation i.e.. share price is rising or falling,
so if share price is rising and upper blue line is broken:
Bearsish trade can be initiated with the help of price action n volume.
if share price has falledn and upper blue is broken:
Bullish trade can be initiated with the help of volume n price action confirmation.
So , if any script moves away from its range, it will try to come back to its normal range movement.
Suppose average movement of any share is 100 points, and share has moved more than 150 points there is high probability that it will move in opposite direction in order to have average movement of price of 100.
For Stocks please use average period as 15 days for index 30 days.
If share price(YELLOW LINE) moves away from higher or lower blue line, then with the help of volume confirmation a trade can be initiated in opposite direction.
Please note direction needs to be opposite of what has happened in the day.
for eg. upper blue line could be broken , in both situation i.e.. share price is rising or falling,
so if share price is rising and upper blue line is broken:
Bearsish trade can be initiated with the help of price action n volume.
if share price has falledn and upper blue is broken:
Bullish trade can be initiated with the help of volume n price action confirmation.
Notas de Lançamento
Remove dead codeupdate average period m fib level
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
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
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
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.