OPEN-SOURCE SCRIPT
20 Day Range High/Low (Turtle Soup)
This indicator identifies the Highest High and Lowest Low of the last 20 periods (customizable) and projects horizontal support/resistance lines to the right.
Unlike standard Donchian Channels or other High/Low indicators that clutter the chart with historical "steps" or extend lines infinitely to the left, this script focuses on chart cleanliness.
Key Features:
Pivot-Point Start: The lines do not span the whole chart. They start exactly at the candle where the High or Low occurred.
Right Extension: Lines extend only to the future, providing a clear visual for potential breakouts or support levels.
No Historical Clutter: It does not draw the past movement of the High/Low, keeping your chart clean for price action analysis.
Dynamic: As new Highs or Lows are made, the lines instantly update to the new positions.
How to Use:
Trend Identification: Use the High line as a resistance/breakout level (similar to Turtle Trading strategies).
Stop Loss Placement: The Low line of the last 20 days often acts as a trailing stop location for long-term trends.
Timeframes: While designed for the classic "20-Day" lookback on the Daily chart, this script works on any timeframe (e.g., finding the 20-hour range on a 1H chart).
Settings:
Length: Default is 20 bars. You can change this in the settings to any lookback period you prefer (e.g., 50, 100).
Unlike standard Donchian Channels or other High/Low indicators that clutter the chart with historical "steps" or extend lines infinitely to the left, this script focuses on chart cleanliness.
Key Features:
Pivot-Point Start: The lines do not span the whole chart. They start exactly at the candle where the High or Low occurred.
Right Extension: Lines extend only to the future, providing a clear visual for potential breakouts or support levels.
No Historical Clutter: It does not draw the past movement of the High/Low, keeping your chart clean for price action analysis.
Dynamic: As new Highs or Lows are made, the lines instantly update to the new positions.
How to Use:
Trend Identification: Use the High line as a resistance/breakout level (similar to Turtle Trading strategies).
Stop Loss Placement: The Low line of the last 20 days often acts as a trailing stop location for long-term trends.
Timeframes: While designed for the classic "20-Day" lookback on the Daily chart, this script works on any timeframe (e.g., finding the 20-hour range on a 1H chart).
Settings:
Length: Default is 20 bars. You can change this in the settings to any lookback period you prefer (e.g., 50, 100).
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
免責事項
この情報および投稿は、TradingViewが提供または推奨する金融、投資、トレード、その他のアドバイスや推奨を意図するものではなく、それらを構成するものでもありません。詳細は利用規約をご覧ください。
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
免責事項
この情報および投稿は、TradingViewが提供または推奨する金融、投資、トレード、その他のアドバイスや推奨を意図するものではなく、それらを構成するものでもありません。詳細は利用規約をご覧ください。