Overall what this script try's to capture is bounces off of moving .
What you will see when using this script
one Green line, one red line, two gray lines and circles in colors blue, green, red, and purple.
RED AND GREEN LINES:
There are two , an upper and a lower line that are 1 to 2 standard deviations from the line formed by the closing price for a look back period. The green is the distance from the close price and the lower line. The red is the list from the close and the upper line. (you don't see the lower and upper lines, but yo do see the green and red lines)
The goal is too easily see when price is approaching those levels.
GRAY lines are a form of metric. GRAYS represent the distance from the RED and GREEN lines talked about above. low mean the two GRAY lines will be close and times of high will be father apart.
the color circles represent possible bounce zones, when price is high or low for for a given time period.
PURPLE is caution that there could be a possible price drop
RED is a critical zone for rejection and price drop
BLUE is caution that there could be a possible price increase
GREEN is a critical zone for bounce and price increase
how its used
feel free to play around and Try new things but, how its intended to be used is on 4hr time Frame looking for longer term trends on assets that tend to be less volatile on average.
buy deviation, this will say how many standard deviations do you want the lower bounce line to be from the line
sell deviation, this will say how many standard deviations do you want the upper bounce line to be from the line
dist to zero buy: how close dose the price has to be to put out a possible bounce.
-red and purple = possible upcoming price drop... red is more critical than purple
-green and blue = possible upcoming price increase... green is more critical than blue
-use on less volatile assents and on 4hr timeframe
Dans le véritable esprit de TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par le règlement. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.