OPEN-SOURCE SCRIPT
Atualizado Mid to High daily % - MA & Threshold
Purpose of this script is to provide a metric for comparing crypto volatility in terms of the % gain that can be garnished if you buy the midpoint price of the day and sell the high***. I'm specifically using bots that buy non-stop. This metric makes it easy to compare crypto coins while also providing insight on what a take profit % should be if I want to be sure it closes often instead of getting stuck in a position.
Added a few moving averages of (Mid-range to High Daily %). When these lines starts to trend down, it's time to lower the take profit % or move on to the next coin.
Decided to add a threshold so I could easily mark where I think the (Mid-range to High Daily %) is for most days.
Ex. I can mark 10% threshold and can eyeball roughly ~75% of the days in the past month or so were at or above that level. Then I know I have plenty volatility for a bot taking 5% profit. Also if you have plenty of periodic poke-through that month (let's say once a week) you might argue that you can set it to 7% if you're willing to wait about that long. Either way this metric is conservative because it is only the middle of the range to the high, a less conservative version might provide the % gain if you bought the day low and sold the day high.
***Since this calculation only takes the middle of the range and the high of the day into account, red days are volatile against a buyer but to your advantage if you are a seller. BUT if you have plenty of safety buy orders this volatility in price only means your total purchase volume increases and when/if you reach a take profit level you sell more there.
Would like to upgrade and add a separate MA line for green days and a separate MA line for red days to discern if that particular coin has a bias. Also would like to include some statistics on how many candles are above or below threshold for a certain period instead of eyeballing.
Added a few moving averages of (Mid-range to High Daily %). When these lines starts to trend down, it's time to lower the take profit % or move on to the next coin.
Decided to add a threshold so I could easily mark where I think the (Mid-range to High Daily %) is for most days.
Ex. I can mark 10% threshold and can eyeball roughly ~75% of the days in the past month or so were at or above that level. Then I know I have plenty volatility for a bot taking 5% profit. Also if you have plenty of periodic poke-through that month (let's say once a week) you might argue that you can set it to 7% if you're willing to wait about that long. Either way this metric is conservative because it is only the middle of the range to the high, a less conservative version might provide the % gain if you bought the day low and sold the day high.
***Since this calculation only takes the middle of the range and the high of the day into account, red days are volatile against a buyer but to your advantage if you are a seller. BUT if you have plenty of safety buy orders this volatility in price only means your total purchase volume increases and when/if you reach a take profit level you sell more there.
Would like to upgrade and add a separate MA line for green days and a separate MA line for red days to discern if that particular coin has a bias. Also would like to include some statistics on how many candles are above or below threshold for a certain period instead of eyeballing.
Notas de Lançamento
Changed the chart on display.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.