OPEN-SOURCE SCRIPT
업데이트됨 TrueLevel Bands
TrueLevel Bands is a powerful trading indicator that employs linear regression and standard deviation to create dynamic, envelope-style bands around the price action of a financial instrument. These bands are designed to help traders identify potential support and resistance levels, trend direction, and volatility.
The TrueLevel Bands indicator consists of multiple envelope bands, each constructed using different timeframes or lengths, and a multiple (mult) factor. The multiple factor determines the width of the bands by adjusting the number of standard deviations from the linear regression line.
Key Features of TrueLevel Bands
1. Multi-Timeframe Analysis: Unlike traditional moving average-based indicators, TrueLevel Bands allow traders to incorporate multiple timeframes into their analysis. This helps traders capture both short-term and long-term market dynamics, offering a more comprehensive understanding of price behavior.
2. Customization: The TrueLevel Bands indicator offers a high level of customization, allowing traders to adjust the lengths and multiple factors to suit their trading style and preferences. This flexibility enables traders to fine-tune the indicator to work optimally with various instruments and market conditions.
3. Adaptive Volatility: By incorporating standard deviation, TrueLevel Bands can automatically adjust to changing market volatility. This feature enables the bands to expand during periods of high volatility and contract during periods of low volatility, providing traders with a more accurate representation of market dynamics.
4. Dynamic Support and Resistance Levels: TrueLevel Bands can help traders identify dynamic support and resistance levels, as the bands adjust in real-time according to price action. This can be particularly useful for traders looking to enter or exit positions based on support and resistance levels.
5. The "Global Trend Line" refers to the average of the bands used to indicate the overall trend.
Why TrueLevel Bands are Different from Classic Moving Averages
TrueLevel Bands differ from conventional moving averages in several ways:
1. Linear Regression: While moving averages are based on simple arithmetic means, TrueLevel Bands use linear regression to determine the centerline. This offers a more accurate representation of the trend and helps traders better assess potential entry and exit points.
2. Envelope Style Bands: Unlike moving averages, which are single lines, TrueLevel Bands form envelope-style bands around the price action. This provides traders with a visual representation of potential support and resistance levels, trend direction, and volatility.
3. Multi-Timeframe Analysis: Classic moving averages typically focus on a single timeframe. In contrast, TrueLevel Bands incorporate multiple timeframes, enabling traders to capture a broader understanding of market dynamics.
4. Adaptive Volatility: Traditional moving averages do not account for changing market volatility, whereas TrueLevel Bands automatically adjust to volatility shifts through the use of standard deviation.
The TrueLevel Bands indicator is a powerful, versatile tool that offers traders a unique approach to technical analysis. With its ability to adapt to changing market conditions, provide multi-timeframe analysis, and dynamic support and resistance levels, TrueLevel Bands can serve as an invaluable asset to both novice and experienced traders looking to gain an edge in the markets.
The TrueLevel Bands indicator consists of multiple envelope bands, each constructed using different timeframes or lengths, and a multiple (mult) factor. The multiple factor determines the width of the bands by adjusting the number of standard deviations from the linear regression line.
Key Features of TrueLevel Bands
1. Multi-Timeframe Analysis: Unlike traditional moving average-based indicators, TrueLevel Bands allow traders to incorporate multiple timeframes into their analysis. This helps traders capture both short-term and long-term market dynamics, offering a more comprehensive understanding of price behavior.
2. Customization: The TrueLevel Bands indicator offers a high level of customization, allowing traders to adjust the lengths and multiple factors to suit their trading style and preferences. This flexibility enables traders to fine-tune the indicator to work optimally with various instruments and market conditions.
3. Adaptive Volatility: By incorporating standard deviation, TrueLevel Bands can automatically adjust to changing market volatility. This feature enables the bands to expand during periods of high volatility and contract during periods of low volatility, providing traders with a more accurate representation of market dynamics.
4. Dynamic Support and Resistance Levels: TrueLevel Bands can help traders identify dynamic support and resistance levels, as the bands adjust in real-time according to price action. This can be particularly useful for traders looking to enter or exit positions based on support and resistance levels.
5. The "Global Trend Line" refers to the average of the bands used to indicate the overall trend.
Why TrueLevel Bands are Different from Classic Moving Averages
TrueLevel Bands differ from conventional moving averages in several ways:
1. Linear Regression: While moving averages are based on simple arithmetic means, TrueLevel Bands use linear regression to determine the centerline. This offers a more accurate representation of the trend and helps traders better assess potential entry and exit points.
2. Envelope Style Bands: Unlike moving averages, which are single lines, TrueLevel Bands form envelope-style bands around the price action. This provides traders with a visual representation of potential support and resistance levels, trend direction, and volatility.
3. Multi-Timeframe Analysis: Classic moving averages typically focus on a single timeframe. In contrast, TrueLevel Bands incorporate multiple timeframes, enabling traders to capture a broader understanding of market dynamics.
4. Adaptive Volatility: Traditional moving averages do not account for changing market volatility, whereas TrueLevel Bands automatically adjust to volatility shifts through the use of standard deviation.
The TrueLevel Bands indicator is a powerful, versatile tool that offers traders a unique approach to technical analysis. With its ability to adapt to changing market conditions, provide multi-timeframe analysis, and dynamic support and resistance levels, TrueLevel Bands can serve as an invaluable asset to both novice and experienced traders looking to gain an edge in the markets.
릴리즈 노트
MTF option added오픈 소스 스크립트
진정한 트레이딩뷰 정신에 따라 이 스크립트 작성자는 트레이더가 기능을 검토하고 검증할 수 있도록 오픈소스로 공개했습니다. 작성자에게 찬사를 보냅니다! 무료로 사용할 수 있지만 코드를 다시 게시할 경우 하우스 룰이 적용된다는 점을 기억하세요.
Plan the trade, trade the plan
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.
오픈 소스 스크립트
진정한 트레이딩뷰 정신에 따라 이 스크립트 작성자는 트레이더가 기능을 검토하고 검증할 수 있도록 오픈소스로 공개했습니다. 작성자에게 찬사를 보냅니다! 무료로 사용할 수 있지만 코드를 다시 게시할 경우 하우스 룰이 적용된다는 점을 기억하세요.
Plan the trade, trade the plan
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.