OPEN-SOURCE SCRIPT
Running Average [EXPERIMENT]
Updated
Predicting the future has nothing to do with trading, understanding your indicator and knowing how to use it does.
Probably not the most efficient code, oh well..
Let me know if it's useful :)
Probably not the most efficient code, oh well..
Let me know if it's useful :)
Release Notes
UPDATE:- Made it much more user friendly with options in the input tab
New Explanation:
Below you see 2 triangles on the chart. It takes the highest high and lowest low between current price and the triangles, the mid point will be the current moving average value.
The offset (prediction) is calculated by giving it 1 length less than the previous, and an offset 1 more than the previous. This offset should always be true until a new high or new low is made out of the range between the triangles.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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.