OPEN-SOURCE SCRIPT
Actualizado ATR% Multiple from Key Moving Average
This script gives signal when the ATR% multiple from any chosen moving average is beyond the configurable threshold value. This indicator quantifies how extended the stock is from a given key moving average.
A lot of traders use ATR% multiple from 10DMA, 21EMA, 50SMA or 200SMA to determine how extended a stock is and accordingly sell partials or exit. By default the indicator takes 50SMA and when the ATR% multiple is greater than 7 then it gives the signal to take partials. You can back test this indicator with previous trades and determine the ideal threshold for the signal. For small and midcaps a threshold of 7 to 10 ATR% multiples from 50SMA is where partials can be taken while large caps can revert to mean even earlier at 3 to 5 ATR% multiples from 50SMA.
You can modify this script and use it anyway you please as long as you make it opensource on TradingView.
A lot of traders use ATR% multiple from 10DMA, 21EMA, 50SMA or 200SMA to determine how extended a stock is and accordingly sell partials or exit. By default the indicator takes 50SMA and when the ATR% multiple is greater than 7 then it gives the signal to take partials. You can back test this indicator with previous trades and determine the ideal threshold for the signal. For small and midcaps a threshold of 7 to 10 ATR% multiples from 50SMA is where partials can be taken while large caps can revert to mean even earlier at 3 to 5 ATR% multiples from 50SMA.
You can modify this script and use it anyway you please as long as you make it opensource on TradingView.
Notas de prensa
Updated the script to calculate the ATR% multiple based on high of the candle rather than close. This makes sure that the indicator flashes the price had reached the target ATR% multiple from key moving average even if it sells off later; so that you will be mindful that the price met your target ATR% multiple during the session. Notas de prensa
Price source selection through input - high, low, open, close or other system defined sources can now be selected. It is defaulted to high so that the signal will flash even if stock is sold off after the target ATR% multiple is hit during the session.Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.