OPEN-SOURCE SCRIPT
Exponential Avg Body Size Green vs Red
Description:
This indicator calculates and plots the Exponential Moving Average (EMA) of green and red candlestick body sizes, allowing traders to easily visualize market momentum and sentiment shifts. The script includes the following features:
Customizable EMA Period: Users can set the number of candles to calculate the EMA through an input setting, with a default value of 21.
Separate Green and Red Candle Averages: Differentiates between bullish (green) and bearish (red) candlestick movements, plotting them as distinct lines.
Dynamic Range Control: Users can adjust the chart range (e.g., -50 to 50) for better visibility of the plotted lines.
Baseline for Reference: A horizontal baseline at 0 serves as a visual aid for easier interpretation.
Standalone Indicator Pane: The script is designed to display in a separate pane, preventing overlap with the price chart.
Use Case:
This indicator is ideal for traders seeking to analyze the relative strength of bullish versus bearish price movements over a specific period. The separation of green and red averages helps identify trends, potential reversals, or shifts in momentum.
This indicator calculates and plots the Exponential Moving Average (EMA) of green and red candlestick body sizes, allowing traders to easily visualize market momentum and sentiment shifts. The script includes the following features:
Customizable EMA Period: Users can set the number of candles to calculate the EMA through an input setting, with a default value of 21.
Separate Green and Red Candle Averages: Differentiates between bullish (green) and bearish (red) candlestick movements, plotting them as distinct lines.
Dynamic Range Control: Users can adjust the chart range (e.g., -50 to 50) for better visibility of the plotted lines.
Baseline for Reference: A horizontal baseline at 0 serves as a visual aid for easier interpretation.
Standalone Indicator Pane: The script is designed to display in a separate pane, preventing overlap with the price chart.
Use Case:
This indicator is ideal for traders seeking to analyze the relative strength of bullish versus bearish price movements over a specific period. The separation of green and red averages helps identify trends, potential reversals, or shifts in momentum.
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.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
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.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.