This is the first robust implementation of based (bars) on TradingView. This type of bar was describe in the book "Advances in Financial Machine Learning," written by Lopez de Prado, a well-known quant who has managed billions of dollars over the course of his career.
(Bars) are bars that are indexed by total , with each set of N shares exchanged forming a separate bar.
This means that on CBTV chart a candle forms not after a specific time interval defined by the time frame of the chart, but when a determined was traded.
This approach to price sampling is much better than the time based one, because it does not oversample periods where nothing happens. Traditional charts show a lot of low bars without meaningful price changes in them.
The efficient price sampling results in better results when using based bars in machine learning forecasting models. They are also useful for . patterns on CBTV chart are more pronounced and have more predictive power.
based bars can be constructed only for instruments where data is available. These are stocks, and crypto currencies.
When you run CBTV it appears in a separate window below the traditional time based chart.
CBTV will be used in pair with a helper indicator which is called Optimal per Candle (OVPC).
When applied to a chart OVPC shows the optimal range for per candle to construct based from this timeframe data. It appears in the blue box above the most recent candle of a standard time based chart.
When you set a Per Candle parameter in CBTV make sure it is within the range that shows OVPC. In this case based chart will be easy to read and all the calculations will be performed with the high level of precision.
The most recent unfinished candle is marked with the different set of colors than historical candles. Unfinished candle is colored in orange if it is a falling candle, blue it it is a rising one.
If you leave the CBTV chart opened for a long time you can have multiple blue or orange candles on it. In this case press the “hide” icon with the eye sign twice (it’s on the left side of the indicator panel next to its input parameters). This will refresh the CBTV and remove the artifacts.
While everything comes Real-time you will see the orange or blue bars form but never update. All you need to do is REFRESH THE CHART. Hoping soon to update this with a version you wont have to refresh the chart.
Please drop a like and comment what you guys think and once again thank you Tradingview for such a great platform :)
진정한 TradingView의 정신에 따라, 이 스크립트의 작성자는 스크립트를 오픈소스로 게시했기에 거래자들이 이해하고 확인할 수 있습니다. 작가님께 건배! 스크립트를 무료로 사용할 수 있지만, 게시물에서 이 코드를 재사용하는 것은 하우스룰을 따릅니다. 당신은 스크립트를 차트에 사용하기 위해 그것을 즐겨찾기 할 수 있습니다.
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