OPEN-SOURCE SCRIPT
The Adam Khoo Magic
Updated
Totally inspired by Adam Khoo's analogy
This is meant for the monthly bar:
Where you try to find the highest point of the average recession/correction time to the bottom:
average correction time to bottom: 4.2months
average bear market time to bottom: 13months (default)
Plot/Fill chart with the 4 tranches recommended:
-8%, -15%, -21% and -35% to gauge entry point
This is meant for the monthly bar:
Where you try to find the highest point of the average recession/correction time to the bottom:
average correction time to bottom: 4.2months
average bear market time to bottom: 13months (default)
Plot/Fill chart with the 4 tranches recommended:
-8%, -15%, -21% and -35% to gauge entry point
Release Notes
Changed that hardcoded timeframe to follow the dynamic highlength
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
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