OPEN-SOURCE SCRIPT
X Period High/Low/Mid

Today we have a simple, but endlessly versatile, indicator that plots the X Period High/Low/Mid of your chosen market.
Traditionally the 52 week High/Low is used as a breakout signal. However, by changing to an X period, and adding a midway line, we create a more versatile indicator that can be tailored to various markets.
By default it's set at 250 periods (because I like the 250 period moving average), and I generally trade H4 and Daily time frames. But tweak it to your liking, you just have to modify the length periods by your desired time frame and lookback length. E.g. to create a 52 week indicator on the daily time frame, enter a length of 260 in the indicator (5 days per week * 52 weeks = 260).
For the above reason, I haven't made this indicator MTF, as there's no real need. However, if users find it easier I can look at adding it later.
Also, the mid point between an X period high/low is often a good trend-follower, as well as acting as support/resistance . I encourage you to experiment with different ways of using this indicator. Entire systems (if your risk management is correct) can be built and traded from this one indicator.
Good luck.
DD
Traditionally the 52 week High/Low is used as a breakout signal. However, by changing to an X period, and adding a midway line, we create a more versatile indicator that can be tailored to various markets.
By default it's set at 250 periods (because I like the 250 period moving average), and I generally trade H4 and Daily time frames. But tweak it to your liking, you just have to modify the length periods by your desired time frame and lookback length. E.g. to create a 52 week indicator on the daily time frame, enter a length of 260 in the indicator (5 days per week * 52 weeks = 260).
For the above reason, I haven't made this indicator MTF, as there's no real need. However, if users find it easier I can look at adding it later.
Also, the mid point between an X period high/low is often a good trend-follower, as well as acting as support/resistance . I encourage you to experiment with different ways of using this indicator. Entire systems (if your risk management is correct) can be built and traded from this one indicator.
Good luck.
DD
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.
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.
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.