Sigmoidal Candle Count Risk (SCCR)

Sigmoidal Candle Count Risk (SCCR)

This indicator is designed to identify potential reversal levels based on the number of consecutive candles moving in the same direction. Its core premise is based on the sequence of consecutive candles moving in uniform. The assumption is that an increasing sequence of consecutive candles heightens the likelihood of a reversal.

Functionality:

It uses the sigmoid function to translate the difference between bullish (upward) and bearish (downward) candle counts into a risk value ranging from 0 (low risk, bullish sentiment) to 1 (high risk, bearish sentiment)

Pine Script®

1/(1+math.exp(-((usum+dsum)/2)))

Additionally, it uses a symmetrically weighted moving average for smoothing.

Pine Script®

ta.swma()

Catatan Rilis

Made a mistake in the previous description. Here is the corrected sigmoid function:

Pine Script®

1/(1+math.exp(-(usum-dsum)))

Also updated the RiskMeasure() parameters from close>open,open>close to close>close[1],close[1]>close to better reflect increases/decreases in price.

Catatan Rilis

Added a timeframe option. Larger timeframe readings tend to provide more probable setups.

Catatan Rilis

Changed scale from 0-1 to 0-100 and added middle line.

Catatan Rilis

General script clean up, visual updates, and added description in the script.

Skrip open-source

Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.

lord1x

Pernyataan Penyangkalan

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Skrip open-source

lord1x