OPEN-SOURCE SCRIPT
Taylor True Ranges - deviations
Description:
The Taylor True Ranges - Deviations indicator in Pine Script 5.0 computes various price levels and averages based on Taylor's trading principles. It provides insights into potential buying and selling opportunities by analyzing deviations from average price movements. The indicator calculates and visualizes critical levels such as Decline Average, Buying Under Average, Pivot Brake Sell, Rally Average, Buying High Average, and Pivot Brake Buy. These levels are derived from historical price data and help traders identify key support and resistance zones, trend reversals, and breakout points.
Key Features:
Taylor's Trading Principles: The indicator implements Taylor's methodology to analyze price movements and identify trading opportunities based on deviations from average ranges.
Multiple Price Levels: It calculates and displays various price levels, including Decline Average, Buying Under Average, Pivot Brake Sell, Rally Average, Buying High Average, and Pivot Brake Buy.
Customizable Visualization: Traders can customize the visualization by toggling the display of individual price levels and adjusting the appearance settings such as line style, color, and text size.
Daily Lookback: The indicator supports a customizable daily lookback period, allowing traders to analyze historical price movements over a specified timeframe.
Usage:
Apply the Taylor True Ranges - Deviations indicator to your chart to analyze deviations from average price movements and identify potential trading opportunities.
Customize the indicator settings, including the daily lookback period, line style, color, and text size, to suit your trading preferences and analysis requirements.
Use the calculated price levels and averages as part of your technical analysis to make informed trading decisions, including identifying support and resistance levels, trend reversals, and breakout points.
Example:
Traders can use the Taylor True Ranges - Deviations indicator to analyze deviations from average price movements and identify key support and resistance levels. For instance, observing a Pivot Brake Sell level crossing above the current price might indicate a potential selling opportunity, while a Pivot Brake Buy level crossing below the price could signal a buying opportunity.
The Taylor True Ranges - Deviations indicator in Pine Script 5.0 computes various price levels and averages based on Taylor's trading principles. It provides insights into potential buying and selling opportunities by analyzing deviations from average price movements. The indicator calculates and visualizes critical levels such as Decline Average, Buying Under Average, Pivot Brake Sell, Rally Average, Buying High Average, and Pivot Brake Buy. These levels are derived from historical price data and help traders identify key support and resistance zones, trend reversals, and breakout points.
Key Features:
Taylor's Trading Principles: The indicator implements Taylor's methodology to analyze price movements and identify trading opportunities based on deviations from average ranges.
Multiple Price Levels: It calculates and displays various price levels, including Decline Average, Buying Under Average, Pivot Brake Sell, Rally Average, Buying High Average, and Pivot Brake Buy.
Customizable Visualization: Traders can customize the visualization by toggling the display of individual price levels and adjusting the appearance settings such as line style, color, and text size.
Daily Lookback: The indicator supports a customizable daily lookback period, allowing traders to analyze historical price movements over a specified timeframe.
Usage:
Apply the Taylor True Ranges - Deviations indicator to your chart to analyze deviations from average price movements and identify potential trading opportunities.
Customize the indicator settings, including the daily lookback period, line style, color, and text size, to suit your trading preferences and analysis requirements.
Use the calculated price levels and averages as part of your technical analysis to make informed trading decisions, including identifying support and resistance levels, trend reversals, and breakout points.
Example:
Traders can use the Taylor True Ranges - Deviations indicator to analyze deviations from average price movements and identify key support and resistance levels. For instance, observing a Pivot Brake Sell level crossing above the current price might indicate a potential selling opportunity, while a Pivot Brake Buy level crossing below the price could signal a buying opportunity.
Script open-source
Dans le plus pur esprit 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 nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
Vous voulez utiliser ce script sur un graphique ?
Clause de non-responsabilité
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.