OPEN-SOURCE SCRIPT
ka66: Asher Magical Midpoint
This Support and Resistance and Trend Channel indicator is based on:
Stocks & Commodities V. 40:13 (20–22): Magical Midpoint Of 52-Week High & Low by Ketan Asher
This indicator seems to work better over higher timeframes, as the article suggested. It also seems to work better with stocks, not so much with currencies. This may be due to the crowd psychology which considers 52-week marks as significant in stocks. The indicator allows configurable lookback periods, and band percentage widths.
Since it's very much price-driven, a useful context for this is some weekly breakout above the midpoint and indication of a rising trend. The bands at the point of breakout can be used as a profit taking point, partial or full, depending on your system.
The article suggests a stop loss at the last week's low, or below the midpoint line depending on the trader's risk appetite.
Stocks & Commodities V. 40:13 (20–22): Magical Midpoint Of 52-Week High & Low by Ketan Asher
This indicator seems to work better over higher timeframes, as the article suggested. It also seems to work better with stocks, not so much with currencies. This may be due to the crowd psychology which considers 52-week marks as significant in stocks. The indicator allows configurable lookback periods, and band percentage widths.
Since it's very much price-driven, a useful context for this is some weekly breakout above the midpoint and indication of a rising trend. The bands at the point of breakout can be used as a profit taking point, partial or full, depending on your system.
The article suggests a stop loss at the last week's low, or below the midpoint line depending on the trader's risk appetite.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, penulis skrip ini telah menjadikannya sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Hormat untuk penulisnya! Meskipun anda dapat menggunakannya secara gratis, ingatlah bahwa penerbitan ulang kode tersebut tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, penulis skrip ini telah menjadikannya sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Hormat untuk penulisnya! Meskipun anda dapat menggunakannya secara gratis, ingatlah bahwa penerbitan ulang kode tersebut tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.