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
Script protegido
Este script se publica como código cerrado. Sin embargo, puede utilizarlo libremente y sin limitaciones: obtenga más información aquí.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Script protegido
Este script se publica como código cerrado. Sin embargo, puede utilizarlo libremente y sin limitaciones: obtenga más información aquí.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.