The Path uses a statistical method that I have developed to indicate possible Lows and Highs of the current bar for the selected time frame. You can see the range at the opening of the bar. You can narrow or widen the range by changing the "Range %".
What does The Path indicate?
The Path uses a statistical method and calculates the limits of the bar. For example when you enter 75 as "Range %", this means there is 75% probability that High of the bar will be below the top line and 75% probability that Low of the bar will be over the bottom line. You can simply change the range probability between 1-99. The Path looks at the past bars (Look back period) and uses a statistical method to forecast.
The Path does not repaint. Range is there at the opening of the bar and never changes. So when you look at the past data, you can see how it worked well in the past!
The Path works with all time-frames (1min-1month and etc.) and all asset classes (Forex, Stocks, Cryptocurrencies and etc.). It simply works.
Please kindly share your opinions and experiences and feel free to send a comment at the below of this post so i can share more statistical indicators that i have developed based on my method.
Please remember to follow me as well and keep in touch!
FYI: This is an indicator that I have developed for myself. You can use it, apply or not to apply it to your trades. Keep in mind that, you are responsible for all your loses (or wins). Risk is 100% yours. Please use / try "The Path" only if you accept this condition.
Can you please add your comments for the scripts i have shared? I would like to know how you use them and liked or not. All comments are appreciated!
Thanks
MAS-Trading
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Hi Dumani, Well done, nice, but? can you adapt so it will tell you where it think's the current trend will go? Not sure if one candlestick projection will help me with my trading? Would be more useful if it calculated a percentage of how far the trend will go. I'll give it a go and see what it does.
AtillaYurtseven
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@MAS-Trading, simply change the time-frame to an upper one. This way you can have a clue. Let me try to explain:
Say you are looking at 1 hour chart. And you can see the range. However, you can switch to 4 hour or 1 day chart and see what that range gives you. This is the best way i can think of. But in version 2, i am planning to add all in the same chart!
MAS-Trading
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@Dumani, Ahhhh! Yes, Changing time frames. Ok cool. I tried to search for it in the indicators menu under "The Path" but nothing appears? Am I searching in the wrong place?
Can you please add your comments for the scripts i have shared? I would like to know how you use them and liked or not. All comments are appreciated!
Thanks