OPEN-SOURCE SCRIPT

TNT

1 343
This script just changes the background of the chart to show Trending(Green) / Range Bound(Red) Regions.

The concept is very simple, al each candle we look at the size of the candle and use a moving average of these candle body size (ABS (close-open)) and compare it agains a double smoothened average, i.e. moving average of this average to find trending or not trending periods.

I find it useful primarily for entry in options, a green background is more favourable for option buying and a red background is more favourable for option selling.

This script tells you nothing about the direction of trade.

면책사항

이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.