OPEN-SOURCE SCRIPT
Diupdate David_FairPriceCandlestick_calculated
Description:
This indicator displays the "Typical Price" for each candle as a visual marker (cross) directly on the chart. The Typical Price is calculated as the average of the High, Low, and Close values of each bar:
(High + Low + Close) / 3
The marker provides a quick visual reference to the fair or average price level within every single candle.
Unlike a Point of Control (POC) or volume-based indicators, this script works purely with price data and is independent of volume or order flow.
Use cases:
Identify where most trading activity may have been concentrated within the candle (for price-based strategies)
Support as a reference line for mean-reversion or fair value concepts
Works on all timeframes and instruments
Customization:
You can easily change the marker style (cross, dot, triangle, etc.) and color within the script.
This indicator displays the "Typical Price" for each candle as a visual marker (cross) directly on the chart. The Typical Price is calculated as the average of the High, Low, and Close values of each bar:
(High + Low + Close) / 3
The marker provides a quick visual reference to the fair or average price level within every single candle.
Unlike a Point of Control (POC) or volume-based indicators, this script works purely with price data and is independent of volume or order flow.
Use cases:
Identify where most trading activity may have been concentrated within the candle (for price-based strategies)
Support as a reference line for mean-reversion or fair value concepts
Works on all timeframes and instruments
Customization:
You can easily change the marker style (cross, dot, triangle, etc.) and color within the script.
Catatan Rilis
Description:This indicator displays the "Typical Price" for each candle as a visual marker (cross) directly on the chart. The Typical Price is calculated as the average of the High, Low, and Close values of each bar:
(High + Low + Close) / 3
The marker provides a quick visual reference to the fair or average price level within every single candle.
Unlike a Point of Control (POC) or volume-based indicators, this script works purely with price data and is independent of volume or order flow.
Use cases:
Identify where most trading activity may have been concentrated within the candle (for price-based strategies)
Support as a reference line for mean-reversion or fair value concepts
Works on all timeframes and instruments
Customization:
You can easily change the marker style (cross, dot, triangle, etc.) and color within the script.
Skrip open-source
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Pernyataan Penyangkalan
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Skrip open-source
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Pernyataan Penyangkalan
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.