OPEN-SOURCE SCRIPT
Study: Candle MA Distance (ATR)
Simple script that plots price to MA distance (ATR) as a bar chart.
ATR is being used here instead of % because ATR keeps it relative to current volatility (1ATR move in either direction can have very different % for when price at 20cent and 2 dollars).
Upper/Lower band is calculated based on the average of previous peak/trough. Price approaching the band could signal overextended in the short term movement, expect price to consolidate/retrace to the MA.
Caution: if the indicator shows the price "pulled back" to MA, the actual price could still go up (or down), just a little slower then the MA
Adjustable Settings:
- Plot as bar or line
- MA Type and Length
- ATR Length
█ Disclaimer
Past performance is not an indicator of future results.
My opinions and research are my own and do not constitute financial advice in any way whatsoever.
Nothing published by me constitutes an investment recommendation, nor should any data or Content published by me be relied upon for any investment/trading activities.
I strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
ATR is being used here instead of % because ATR keeps it relative to current volatility (1ATR move in either direction can have very different % for when price at 20cent and 2 dollars).
Upper/Lower band is calculated based on the average of previous peak/trough. Price approaching the band could signal overextended in the short term movement, expect price to consolidate/retrace to the MA.
Caution: if the indicator shows the price "pulled back" to MA, the actual price could still go up (or down), just a little slower then the MA
Adjustable Settings:
- Plot as bar or line
- MA Type and Length
- ATR Length
█ Disclaimer
Past performance is not an indicator of future results.
My opinions and research are my own and do not constitute financial advice in any way whatsoever.
Nothing published by me constitutes an investment recommendation, nor should any data or Content published by me be relied upon for any investment/trading activities.
I strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.
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 de código abierto
Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.
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.