PROTECTED SOURCE SCRIPT
candle stats v1
Objective:
Capture sequential/subsequent candle's relative properties
Average observations to represent the landscape of the marketplace
Parameters:
"range" : high-low
"overlap" : range - range[1]
"wick_body_ratio" : (range - abs(open-close))/range
"up_count" for "period" : number of occurrences where <period> consecutive candles have low>low[i+1]. (note: the values are not cumulative over period)
*"down_count" for "period" : number of occurrences where <period> consecutive candles have high<high[i+1]. (note: the values are not cumulative over period)
** the last counter includes the value for "period" and all above
Basic inferences:
mean_range could be used to derive at an appropriate hard-stoploss
high wick to body ratio indicates healthy buzzing market, ie, each candle has a high frequency standing wave within it. a lower value indicates that the timeframe is ordered and highly directional
low overlap indicates trend definition/resolution
the counters show how likely or unlikely a run up or run down of a particular length is
a combination of counter and mean_range could be used to derive at an appropriate take profit
Use case:
to determine the appropriate timeframe to develop or apply a strategy
Future enhancements:
more complex relationships such as higher highs and lower lows
frequency of oscillations
Capture sequential/subsequent candle's relative properties
Average observations to represent the landscape of the marketplace
Parameters:
"range" : high-low
"overlap" : range - range[1]
"wick_body_ratio" : (range - abs(open-close))/range
"up_count" for "period" : number of occurrences where <period> consecutive candles have low>low[i+1]. (note: the values are not cumulative over period)
*"down_count" for "period" : number of occurrences where <period> consecutive candles have high<high[i+1]. (note: the values are not cumulative over period)
** the last counter includes the value for "period" and all above
Basic inferences:
mean_range could be used to derive at an appropriate hard-stoploss
high wick to body ratio indicates healthy buzzing market, ie, each candle has a high frequency standing wave within it. a lower value indicates that the timeframe is ordered and highly directional
low overlap indicates trend definition/resolution
the counters show how likely or unlikely a run up or run down of a particular length is
a combination of counter and mean_range could be used to derive at an appropriate take profit
Use case:
to determine the appropriate timeframe to develop or apply a strategy
Future enhancements:
more complex relationships such as higher highs and lower lows
frequency of oscillations
Skrip terproteksi
Skrip ini diterbitkan sebagai sumber tertutup. Namun, anda dapat menggunakannya secara bebas dan tanpa batasan apa pun – pelajari lebih lanjut di sini.
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 terproteksi
Skrip ini diterbitkan sebagai sumber tertutup. Namun, anda dapat menggunakannya secara bebas dan tanpa batasan apa pun – pelajari lebih lanjut di sini.
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.