True Average PriceTrue Average Price
Overview
The indicator plots a single line representing the cumulative average closing price of any symbol you choose. It lets you project a long-term mean onto your active chart, which is useful when your favourite symbol offers limited history but you still want context from an index or data-rich feed.
How It Works
The script retrieves all available historical bars from the selected symbol, sums their closes, counts the bars, and divides the totals to compute the lifetime average. That value is projected onto the chart you are viewing so you can compare current price action to the broader historical mean.
Inputs
Use Symbol : Toggle on to select an alternate symbol; leave off to default to the current chart.
Symbol : Pick the data source used for the average when the toggle is enabled.
Line Color : Choose the display color of the average line.
Line Width : Adjust the thickness of the plotted line.
Usage Tips
Apply the indicator to exchanges with shallow history while sourcing the average from a complete index (e.g., INDEX:BTCUSD for crypto pairs).
Experiment with different symbols to understand how alternative data feeds influence the baseline level.
Disclaimer
This indicator is designed as a technical analysis tool and should be used in conjunction with other forms of analysis and proper risk management.
Past performance does not guarantee future results, and traders should thoroughly test any strategy before implementing it with real capital.
Averageprice
Anchored Average Price by Atilla Yurtseven (AAP)Anchored Average Price indicator is designed to pinpoint a specific date and price in a given financial instrument's price chart. Once anchored to the desired date and price level, the script calculates and displays the average price from that anchor point to the current day.
Features
Customizable Source: Allows users to choose the source data for calculations. By default, it uses hlc3, which is the average of high, low, and close prices.
Start Date Input: The script includes a timestamp-based input that allows the user to specify the anchor date easily.
Customizable Color: Users can change the color of the plotted average line, adding an additional layer of customization to the visual representation.
Code Mechanics
Initialization: Declares the variables and arrays required for calculations and display. The array is used to store price data.
Condition Check: Only starts storing and calculating data if the chart's time is equal to or greater than the user-defined start date.
Data Storing: Once the condition is met, the script pushes the src price data into the array for future averaging.
Average Calculation: It calculates the average price of the values stored in the array.
Data Clearing: If the condition is not met, the array is cleared, and no average is plotted.
Plotting: The average price is plotted on the chart with the user-defined color.
By incorporating these features and mechanics, AAP provides traders and investors with a powerful tool for assessing average prices anchored to a specific date or swing.
Disclaimer:
This TradingView script is intended for educational and informational purposes only and should not be considered as investment or trading advice. Past performance is not indicative of future results. Trading and investing carry a high level of risk, and you should consult with a qualified financial advisor before making any financial decisions. The creator of this script, Atilla Yurtseven, is not responsible for any losses or damages incurred as a result of using this script.
Trade smart, stay safe
Atilla Yurtseven
LNL Keltner CandlesLNL Keltner Candles
This indicator plots mean reversion (reversal) arrows with custom painted candles based on the price touch or close above or below keltner channel limits (upper & lower bands). This study was created primarily for swing trading & higher time frames such as daily and weekly. Lower time frames might result in more false signals.
Mean Reversal Arrows:
1. Reversal Arrow Up - If the price drops below the lower band extremes, reversal up is the trigger for a bullish mean reversion.
2. Reversal Arrow Down - Once the price reach the higher band extremes, reversal down is the trigger for a bearish mean reversion.
The Concept of Mean Reversion:
There are just two types of moves in any market: The market is either expanding from the mean or retracing back to the mean. These reversions & epxansions are happening across all types of markets. The goal of this study is to catch the powerful mean reversion from extremes back to the mean. Once the candles light up green / red, it is time to look for the reversal (purple) arrow which triggers the mean reversion setup. Mean reversion is not about catching the next big swing turn to new highs or lows. It is all about the base hits = the mean. So the target here is always the average price. The idea here is to catch the average market ebbs & flows, not the next home run.
What Do I Mean by Mean?
Mean is usually the average price from the last 20-30 bars. Basically something like a 20 MA or Keltner Channel or Bollinger Band midline are really good visual representators of the mean (average price).
Hope it helps.
