OPEN-SOURCE SCRIPT
Sigmoidal Candle Count Risk (SCCR)
Actualizado
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:
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)
- Additionally, it uses a symmetrically weighted moving average for smoothing.
Notas de prensa
Made a mistake in the previous description. Here is the corrected sigmoid function:Also updated the RiskMeasure() parameters from close>open,open>close to close>close[1],close[1]>close to better reflect increases/decreases in price.
Notas de prensa
Added a timeframe option. Larger timeframe readings tend to provide more probable setups.Notas de prensa
Changed scale from 0-1 to 0-100 and added middle line.Notas de prensa
General script clean up, visual updates, and added description in the script.Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.
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