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PpSignal volatility strength Indicator this bollinger band is calculated with rsi wilder ... You can also see the smoothed ATR with the elder formula and a Tilson t3. All indicators have alarms. So you can see the right moment of entry. When tilson is green, and atr is blue and the price crossed the upper band is a BUYsignal and and invese color (red) and the prece cross the down ban. You also have the option of seeing the RSI Wilder as a line or as haiken ashimode. keep in mind the trend and divergences of macd ewo or rsi to make your tickets more effective.
Pine Script™ indicator
by PpSignal01
1
Relative Strength(RSMK) + Perks - Markos KatsanosIf you are desperately looking for a novel RSI, this isn't that. This is another lesser known novel species of indicator. Hot off the press, in multiple stunning color schemes, I present my version of "Relative Strength (RSMK)" employing PSv4.0, originally formulated by Markos Katsanos for TASC - March 2020 Traders Tips. This indicator is used to compare performance of an asset to a market index of your choosing. I included the S&P 500 index along side the Dow Jones and the NASDAQ indices selectively by an input() in "Settings". You may comparatively analyze other global market indices by adapting the code, if you are skilled enough in Pine to do so. With this contribution to the Tradingview community, also included is MY twin algorithmic formulation of "Comparative Relative Strength" as a supplementary companion indicator. They are eerily similar, so I decided to include it. You may easily disable my algorithm within the indicator "Settings". I do hope you may find both of them useful. Configurations are displayed above in multiple scenarios that should be suitable for most traders. As always, I have included advanced Pine programming techniques that conform to proper "Pine Etiquette". For those of you who are newcomers to Pine Script, this script may also help you understand advanced programming techniques in Pine and how they may be utilized in a most effective manner. Utilizing the "Power of Pine", I included the maximum amount of features I could surmise in an ultra small yet powerful package, being less than a 60 line implementation at initial release. Unfortunately, there are so many Pine mastery techniques included, I don't have time to write about all of them. I will have to let you discover them for yourself, excluding the following Pine "Tricks and Tips" described next. Of notable mention with this release, I have "overwritten" the Pine built-in function ema(). You may overwrite other built-in functions too. If you weren't aware of this Pine capability, you now know! Just heed caution when doing so to ensure your replacement algorithms are 100% sound. My ema() will also accept a floating point number for the period having ultimate adjustability. Yep, you heard all of that properly. Pine is becoming more impressive than `impressive` was originally thought of... Features List Includes: Dark Background - Easily disabled in indicator Settings->Style for "Light" charts or with Pine commenting AND much, much more... You have the source! The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... regarding only this indicator, not others. When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members, I may implement more ideas when they present themselves as worthy additions. As always, "Like" it if you simply just like it with a proper thumbs up, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!
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Pine Script™ indicator
by ImmortalFreedom
17
Live Mini Terminal 6 : Major U.S Indices Change DataThis script displays relative data changes occurring in the adjustable period and/or adaptive automatic period in US Major Indices. It was inspired by the data terminals used by commercial traders. Period selection can be adjusted in the menu. This script uses the adaptive period algorithm used by Autonomous LSTM and Relativity scripts. Or you can set the period manually from the menu. For more information about adaptive period this script uses: This script works only for 1 day (1D) and 1 week (1W) time frames. The most efficient time frame is 1 week (1W) because of different time-zones . Features Value changes on a percentage basis (%) Recently, due to increasing interest, the NQNACE index has been added. Index descriptions are printed on the information panel. Sentiment NYSE ARCA and AMEX indices added. INSTRUMENTS SP1! : S&P 500 Futures Index DJI : Dow Jones Industrial Average Index NDX : Nasdaq 100 Index RUT : Russell 2000 Index NYA : NYSE Composite Index OSX : PHLX Oil Service Sector Index HGX : PHLX Housing Sector Index UTY : PHLX Utility Sector Index SOX : PHLX Semiconductor Sector Index SPSIBI : S&P Biotechnology Select Industry Index XNG : NYSE ARCA Natural Gas Index SPGSCI : S&P Goldman Sachs Commodity Index XAU : PHLX Gold and Silver Sector Index SPSIOP : S&P Oil and Gas Exploration and Production Select Industry Index GDM : NYSE ARCA Gold Miners Index DRG : NYSE ARCA Pharmaceutical Index TOB : NYSE ARCA Tobacco Index DFI : NYSE ARCA Defense Index NWX : NYSE ARCA Networking Index XCI : NYSE ARCA Computer Technology XOI : AMEX Oil Index XAL : AMEX Airline Index NQNACE : Nasdaq Yewno North America Cannabis Economy Index USAGE The script can be used as an indicator by putting it under the chart as shown above. It is necessary to enlarge to see clearly. Since it is not often looked at,such use is the best method for healthy interpretation. Regards.
Pine Script™ indicator
by Noldo
3
Syminfo.TypeHello traders Earlier this week I discovered a new built-in variable called syminfo.type What is it for? This variable returns the type of the current symbol. Possible values are cfd, stock, futures, indices, forex, crypto, fund. Cool bro but... should we care? Well... we all should. Imagine you have a generic script and you want a different configuration whether you're trading FOREX or Crypto . I designed a dummy example in that script that will preset the inputs according to the asset type from the chart. Here I want 12/26/9 for forex and 20/50/50 for crypto - 30/60/90 otherwise Quick caveat It seems that for any crypto asset, syminfo.type returns "bitcoin". TradingView will fix it at some point but wanted to give you the heads-up regardless Enjoy and all the BEST ^^ -- Dave
Pine Script™ indicator
by Daveatt
9
Algorithm Builder - INDICESHello traders I. 💎 SCRIPTS ACCESS AND TRIALS 💎 1. For the trial request access, they have to be done through my website . 2. My website URL is in this script signature at the very bottom (you'll have to scroll down a bit and going past the long description) and in my profile status available here : Daveatt Due to the new scripts publishing house rules, I won't mention the URL here directly. As I value my partnership with TradingView very much, I prefer showing you the way for finding them :) 3. Many video tutorials explaining clearly how all our indicators work are available on your website > guides section. 4. You may also contact me directly for more information II. 🔎 Algorithm Builder INDEX 🔎 2.1 INDEX trading Let's start with a quick definition. Index Trading is a type of trading of a group of stocks that make up the index. An Index is a measurement of the value of a section of the stock market. It is computed from the prices of selected stocks. It may also be referred to as a group of stock market publicly-listed uppermost businesses within a region. There are numerous Stock Market Indices within the world such as Dow Jones/SPX500 (USA), DAX (Germany), S&P/ASX 200 (Australia), FTSE100 (London), CAC 40 (France), AEX index (Amsterdam), IBEX 35 and more. 2.2 🔗 Which brokers are compatible? 🔗 ⚠️⚠️Please note we mostly tested those signals with FXCM broker. You may use a different broker but you have to make sure your broker has a similar price quote with at most 2/3 pips difference with FXCM. We chose a broker where the spreads are among the lowest across the board. Disclaimer : we're not affiliated in any way with them. 2.3 Concept This indicator is born because we identified 2 types of traders : 1) Those who want to play with the indicators and discover a sound system by themselves. That's why we made the Algorithm Builders (Singles/Multiples) + Backtest suites 2) Those who want to be guided way more and get signals that actually are very coherent AND without too much configuration on their end. We're very aware that this point is a big claim and to prove how confident we are with our Algorithm Builder (INDEX), we're sharing on TradingView the signals given by the tool at the end of each day. Our new PREMIUM customers automatically get a 3 weeks trial to try out all of our indicators and see themselves how they perform. We could show you all the track records/backtests in the world (which could easily be faked with very optimistic setups or photoshop) - instead, we'd like YOU to try our products yourselves during your Trial - as this would be the best proof you could ever get that our indicators could help your trading. III. 🔅 The INDEX Framework 🔅 ALL signals are displayed because they have to be taken (unless invalidated or risk too big) because we cannot know before what signal will lead to big profits versus get invalidated. Those signals were made such as : - in case of a risk of losing capital, we would lose a small amount thanks to the invalidations/hard exits. - give only signals where the Risk-to-reward is decent enough and the risk is not disproportioned compared to the potential reward. - NOT a guarantee at all but we made those signals such as they'll reward the traders with about 30/50 pips gains per trade. Assuming the Algo INDEX gives 5 trades a day and you applied it on 3 indexes and 1 trade per index is a loss (= likely invalidated with a small loss - a Stop Loss could always happen but we designed it to prevent those from happening), then we're not aware of any other trading method/system beating that on index trading. Period. And we're actively monitoring what the competition is doing on a daily basis always to stay ahead. I'll explain below which market condition is riskier and how to act (which is better than usually reacting in trading or in life in general). IV. 📜 The 10 Commandments 📜 1️⃣ You shall read our guide on our website and look at the video tutorial . URL available on this script signature (you'll have to scroll down a bit and going past the long description) and in my profile status. I give way more details there and won't give too much info here because it will make this script description way too long. 2️⃣ You shall follow the method religiously and trade like a “MACHINE” . All graphical elements displayed on the chart by our indicator is useful (= to be used) and has been thought of, tested and traded with for years. We know that adopting someone else's method is a huge leap of faith but it's required sometimes to ask our clients to trust us. 3️⃣ You must always consider the supports and resistances. We know it could be surprising to see so many S/R displayed by the indicator but you'll have to trust us on the following claim: They're all important and must be considered before entering a trade or not 4️⃣ You must Not change the recommended chart timeframe. Even if the chart timeframe is 1 minute, the sub-indicators used are very smoothed and based on indicators in 15/30/1h timeframes. Entering in a 1 min chart allows to enter sooner and this combined with multi timeframes indicators allows to enter when a trend is confirmed. 5️⃣ You Must NOT trade anything else than indexes with this indicator. As said before, we're working really hard on releasing a similar assisted trading framework for cryptocurrencies and other asset classes (FOREX, COMMODITIES, ...) and we aim to release the Algo Builder CRYPTO before the end of this year. We started with the ALGO INDEX because it's our specialty, there is a ton of liquidity in that market and a lot of traders asked for it - we would say almost as close as the number of traders asking us for an ALGO CRYPTO framework. 6️⃣ You shall know the Leading Trend displayed on your chart - Signal in the same direction of the leading trend: i.e. green signal on a green chart background and red signal on a red chart background. - Signal given regardless of the leading trend direction. In other words, green/red signal may be displayed on either background color (green/red) In that scenario, we recommend waiting for a pullback near the EMA(20) and set your SL to breakeven quickly. ⚠️ To be clear; ALL signals should be taken but those against the trend could require a pullback as explained above. 7️⃣ You shall know your trading profile Trend confirmation when entering against the leading trend: You'll also notice that the leading trend is real and strong. Let's assume a trader enters in a LONG position/RED background and then the chart background turns GREEN at some point later on. You'll often see that this "event" will confirm even more the trend direction and that's when the trend could very likely accelerate. 8️⃣ You will embrace the Hard Exits philosophy. The framework won't work as well as expected without them. It's even the most important "commandment" and it requires to be rigorous and throw away to the bin whatever we might think and feel. Not exiting a signal when invalidated because you feel differently will not work. 9️⃣ You must know the Risk and Money Management basis. Each market is unique and cannot possibly be traded the same way. We're happy to provide a few guidelines for the INDEX market just below. - Know your macro events with the daily economic calendar. - Stay consistent with your position sizing - Stay consistent with your trade management 🔟 You Shall Test and Make your Own Conclusions. You have a FREE TRIAL period to test because we know that many traders aren't full-time traders and have a family/job/life outside trading. So take your time to visually backtest the signals, trade with small positions, follow our rules and learn from your own experience. While we keep saying "do this, do that", we're not dogmatic at all and we welcome any feedback you might have that could benefit the community and we'll likely integrate it if we see a good value in your idea. You can submit an idea/feedback/comment by contacting me directly. V. 🧰 Features 🧰 5.1 Supports and Resistances The indicator displays the main algorithmic supports and resistances according to our trading method for INDEX. 5.2 Choose your favorite risk management algorithm 1/ Pre-defined and recommended mode for this INDEX framework - Algo S/R method using: - the nearest algorithmic resistances for the take profit levels. 2/ Define your own Stop-loss and Take-profits level in real-time Stop-Loss Management For what's following, let's assume that 2 is the stop-loss value you inserted in the indicator, and the Algorithm Builder gives a BUY signal. This is NOT a recommendation at all, only an example to explain how this feature works. - %Trailing: The Stop-Loss starts 2% away from the entry price - and will move up (because we're on a BUY trade as per our example) every time your trade will gain 2% profit - Percentage: The Stop-Loss stays static 2% away from the entry price. There is no trailing here - TP Trailing: This is a very awesome feature. The stop-loss is set 2% away when the trades start. When the TP1 is hit, the stop-loss will be moved to the Entry price (also called breakeven). When the TP2 is hit, the SL is moved to the previous TP1 position - Fixed: Set the Stop-Loss at a fixed position (value should be in currency/units) Take Profits Management You can manage up to 2 take profit levels defined as a percentage or price value. The expected input is in percentage value (for instance, setting the % target of TP1 to 2% will set the TP1 level 2% away from the entry price 5.3 Built-in Trade Manager This is very likely the most loved utility script that we shared on TradingView. It's included in your Algorithm Builder - Single Trend+, and will certainly help you immensely to analyze your charts and your trades. We made sure that all the graphical elements on the chart will be updated in real-time whenever our user change anything on the indicator configuration. You'll also be able to change the Trade Manager labels positions as you wish :) 5.4 Built-in Risk-to-Reward Panel The good stuff doesn't stop here. You'll notice that this sometimes green (when in a LONG), sometimes red (when in a SHORT) panel at the right of your chart. It displays for the selected trading algorithmic (see 2.3.2 above), a ton of useful real-time analytics. - Entry Price: the price when the Algorithm Builder will give a signal. - The Trade PnL in percentage. - Entry Stop Loss: Distance (in currency/units) between the selected stop-loss algorithm (percent, trailing, TP trailing, etc.) and the entry price. - Entry TP1: Distance (in currency/units) between the entry price and the first take profit - Entry TP2: Distance (in currency/units) between the entry price and the second take profit - Risk/Reward TP1: Using the Stop-loss distance at entry, and Take Profit 1 at entry to compute the risk-to-reward ratio. - Risk/Reward TP2: Using the Stop-loss distance at entry, and Take Profit 2 at entry to compute the risk-to-reward ratio. For more details, please check the guides section of my website. Links are in my signature and profile status. 5.5 Built-in PnL real-time calculations YES!!!! you read it correctly The panel displays the risk-to-reward ratios but also the PnL (Profit and Loss in percentage value) of the current and last trade VI. 🔔 Alerts 🔔 We enabled the alerts on the: 1. Main BUY/SELL entries 3. Exit Signals such as stop-loss, take-profit, hard-exits VII. 🧬 Compatible with trading bots?🧬 I'm very aware of all existing solutions out there allowing us to capture the TradingView alerts (Instabot, ProfitView, ...) and forwarding them to the brokers to automatize your trading. You'll find a more detailed answer on our website.
Pine Script™ indicator
by Daveatt
7
PpSignal quantiles BandIn statistics and the theory of probability, quantiles are cutpoints dividing the range of a probability distribution into contiguous intervals with equal probabilities, or dividing the observations in a sample in the same way. There is one less quantile than the number of groups created. Thus quartiles are the three cut points that will divide a dataset into four equal-size groups (cf. depicted example). Common quantiles have special names: for instance quartile, decile (creating 10 groups: see below for more). The groups created are termed halves, thirds, quarters, etc., though sometimes the terms for the quantile are used for the groups created, rather than for the cut points. q-Quantiles are values that partition a finite set of values into q subsets of (nearly) equal sizes. There are q − 1 of the q-quantiles, one for each integer k satisfying 0 < k < q. In some cases the value of a quantile may not be uniquely determined, as can be the case for the median (2-quantile) of a uniform probability distribution on a set of even size. Quantiles can also be applied to continuous distributions, providing a way to generalize rank statistics to continuous variables. When the cumulative distribution function of a random variable is known, the q-quantiles are the application of the quantile function (the inverse function of the cumulative distribution function) to the values {1/q, 2/q, …, (q − 1)/q}
Pine Script™ indicator
by PpSignal01
1
PpSignal Spread Between Stock and Reference Indexindicator correlation stock, crypto or fx pair with a reference index. for example eurusd and dxy. we can also obtain the relationship between an asset and its index (spread). For example, if I want to know what is the correlation of APPLE with its referendum index: it is appl and spx is calculated based on CFB. if you need more information send me a email to oaperuchena41@gmail or send me a private message
Pine Script™ indicator
by PpSignal01
1
PpSignal ATR MA Band V2.1this indicator is based on the idea of acceleration bands, only that the algorithmic calculation is totally different and more accurate ATR or accelerator Bands Quick Summary Breakout outside ATR bands suggest a beginning of a strong rally or a sell-off. Closing inside the bands afterward signals about the end of a rally or a sell-off. The idea behind Acceleration Bands indicator Acceleration Bands principal use is in finding the acceleration in currency pair price and benefit as long as this acceleration preserves. How to trade with AB indicator 2 consecutive closes outside Acceleration Bands suggest an entry point in the direction of the breakout. Then position is kept till the first close back inside the Bands. this indicator also shows us the trend, using CFB as a signal. It also uses W% smoothing, when the CFB trend, the W% and the escape of the bands going to the same side is a strong signal of purchase or sale. You may find other alarms within the indicator such as: W% signal escape from the price of the bands. price entry to the bands bollinger bans stop, can be used as SL. and a mobile average based on ATR. You can to combine this indicator with: related pre indicators
Pine Script™ indicator
by PpSignal01
1
Crypto Majors Strength IndexIndicator showing the strength of the major cryptocurrencies relative to a base currency and to each other. Coins included in index: BTC, ETH, LTC, XRP, ADA, EOS, TRX. How it works: The currency that you're viewing acts as the base currency and all other currencies will be measure relative to it. The indicator shows the percentage price change of the major currencies relative to the percentage change of the currency that you're viewing. • Currencies that are trending above the base line are stronger than the currency you're viewing (either rising more rapidly or falling more slowly). • Currencies that are trending below the base line are weaker than the currency you're viewing (either falling more rapidly or rising more slowly). How the Crypto Majors Strength Index can assist your trading: 1. Identify the beginning/ending of breakouts As BTC tends to lead the market, lets apply the indicator on this currency. On a daily timeframe we can see that: • From 23rd Jan 2019 to 18th Feb 2019 LTC outperforms BTC as well as all other majors • During this same period TRX appears to consistently underperform • Beginning around 11th March 2019 ADA begins to perform better than BTC and the rest of the index • A hypothetical strategy that used the index might Long LTC and Short TRX during this period before moving profits into ADA We don't have to use the index on BTCUSD. Used on an Alt coin like HOTBTC we can see how on 10th Jan 2019 the Majors begin to trend below the base line indicating strength in HOTBTC relative to these coins 2. Identify correlated currencies • As the base currency moves, which coins move with it and which don't? • For example, some say XRP has the least correlation with BTC. From 3rd Nov 2018 through to 16th December 2018 this appeared to be the case but has reduced recently 3. Avoid dead money • Not much fun spending too long in a currency trading eternally sideways. With a glance at the index you can identify the currencies trading upwards/downwards which can help you decide where to allocate your capital. Those coins moving away from the base line is where volatility (and returns) are to be found ------------------------------- This is my first published indicator so ideas and suggestions welcome. Grazie 🙏
Pine Script™ indicator
by mistakesofambition
4
F1 DUCK - TAD SYSTEMTAD System The acronym TAD stands for TURTLE, ATOM and DUCK. With the TAD System, traders know when to BUY or SELL easily without any hassle. The TAD System was founded by Mr Fred Tam, the principal lecturer in F1 Academy of Technical Analysis. A revolution mechanical trading system designed to make trading easy for beginners and non-experienced traders. The TAD System is basically a combination of 3 indicators which are included into the TAD System to make trading as simple as possible. For more information and if you require access for the indicators please do not hesitate to contact us by dropping a message or visit us at: f1traderacademy.com Click on “Add to Favorite Scripts” to include the F1 DUCK indicator onto your charting platform. How simple is the system? With the three BUY arrows aligned accordingly with the TURTLE, ATOM and DUCK indicators, this triggers an affirmative BUY signal and vice versa. With the three SELL arrows aligned accordingly with the TURTLE, ATOM and DUCK indicators, this triggers an affirmative SELL signal and vice versa. The DUCK indicator is to be used alongside with the TURTLE and ATOM indicators. As with all 3 indicators used alongside, it becomes the TAD System. To complete your TAD System setup you still require: To add the F1 TURTLE indicator as favorite script: To add the F1 ATOM indicator as favorite script:
Pine Script™ indicator
by TADSYSTEM
2
F1 TURTLE - TAD SYSTEMTAD System The acronym TAD stands for TURTLE, ATOM and DUCK. With the TAD System, traders know when to BUY or SELL easily without any hassle. The TAD System was founded by Mr Fred Tam, the principal lecturer in F1 Academy of Technical Analysis. A revolution mechanical trading system designed to make trading easy for beginners and non-experienced traders. The TAD System is basically a combination of 3 indicators which are included into the TAD System to make trading as simple as possible. For more information and if you require access for the indicators please do not hesitate to contact us by dropping a message or visit us at: f1traderacademy.com Click on “Add to Favorite Scripts” to include the F1 TURTLE indicator onto your charting platform. How simple is the system? With the three BUY arrows aligned accordingly with the TURTLE, ATOM and DUCK indicators, this triggers an affirmative BUY signal and vice versa. With the three SELL arrows aligned accordingly with the TURTLE, ATOM and DUCK indicators, this triggers an affirmative SELL signal and vice versa. The TURTLE indicator is to be used alongside with the ATOM and DUCK indicators. As with all 3 indicators used alongside, it becomes the TAD System. To complete your TAD System setup you still require: To add the F1 ATOM indicator as favorite script: To add the F1 DUCK indicator as favorite script:
Pine Script™ indicator
by TADSYSTEM
7
F1 ATOM - TAD SYSTEMTAD System The acronym TAD stands for TURTLE, ATOM and DUCK. With the TAD System, traders know when to BUY or SELL easily without any hassle. The TAD System was founded by Mr Fred Tam, the principal lecturer in F1 Academy of Technical Analysis. A revolution mechanical trading system designed to make trading easy for beginners and non-experienced traders. The TAD System is basically a combination of 3 indicators which are included into the TAD System to make trading as simple as possible. For more information and if you require access for the indicators please do not hesitate to contact us by dropping a message or visit us at: f1traderacademy.com Click on “Add to Favorite Scripts” to include the F1 ATOM indicator onto your charting platform. How simple is the system? With the three BUY arrows aligned accordingly with the TURTLE, ATOM and DUCK indicators, this triggers an affirmative BUY signal and vice versa. With the three SELL arrows aligned accordingly with the TURTLE, ATOM and DUCK indicators, this triggers an affirmative SELL signal and vice versa. The ATOM indicator is to be used alongside with the TURTLE and DUCK indicators. As with all 3 indicators used alongside, it becomes the TAD System. To complete your TAD System setup you still require: To add the F1 TURTLE indicator as favorite script: To add the F1 DUCK indicator as favorite script:
Pine Script™ indicator
by TADSYSTEM
1
Stock Market Indices Correlations HeatmapHello traders! This tool shows you the correlation between well-known stock market indices and selected instrument. Also it has customizable alerts for the strong positive and negative correlations. What are correlation and correlation coefficient? Correlation is a term from mathematical statistics that describes the strength of linear relationship between the variables (in our case: financial instruments). Simply speaking, it describes whether or not instruments move in same/opposite directions. Correlation coefficient is a statistical measure of the correlation and that is bounded in a range of -1 to 1. The most common calculation of the correlation coefficient is the Pearson product-moment method. How to interpret? The darker the color, the stronger the correlation Green colors mean positive correlations Red colors mean negative correlations Transparent colors mean no correlation or absence of the symbol data Supported indices Russell 3000 Russell 2000 NASDAQ Composite NYSE Composite S&P 500 DJIA SSE Composite CSI 300 SZSE Composite NIKKEI 225 HSI 50 DAX 30 FTSE 100 CAC 40 RTSI 50 S&P/TSX 500 S&P/ASX 200 BOVESPA 60 NIFTY 50 BSE 30 IBEX 35 FTSE MIB 40 SMI 20 ATX 20 OMXS 30 KOSPI 200 BIST 100 VN 30 I attach screenshots to show you how it works with other instruments. How to get access Buy for only 59$ to get lifetime access to this indicator Like and follow for more cool indicators! Good luck and happy trading!
Pine Script™ indicator
by everget
2
Is Open equal to High or LowMany people are watching opening price on each time axis. Opening price is very important. This indicator displays OHLC Open as a line in multiple time frame. If open is close to high or low, the color of the line changes. The fact that they are close means the strength of the market flow and the firmness of that price range. Note: The color of the line will not be fixed until bar is closed. And when using, please set arbitrary coefficient according to each market. Coefficient e.g. EURUSD: 0.00005 BTCUSD: 1 DJI: 5 BTCJPY: 100 USDJPY: 0.01 NI225: 2
Pine Script™ indicator
by h2sa
2