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Daily Range Exhaustion Signal
This tool plots the average true range distance from each bar's open, up and down, so you can tell when a bar moves by more than the average distance a day's range usually travels. It's an interesting concept, but not something I use a lot of the time. Looking at the range relative to the last bar's range, is what I normally do to find bouts of strength or weakness, and to determine if these moves have follow through or not.
You may experiment with this indicator to see if it helps in your price action analysis. Usually, bigger than 1 ATR moves don't keep going for much more, unless there's some outrageous news related to the move.
This idea came from a conversation with Yacine Kanoun here, and I coded it into an indicator.
Credit where credit is due (right Yacine?)...
Cheers,
Ivan Labrie.
You may experiment with this indicator to see if it helps in your price action analysis. Usually, bigger than 1 ATR moves don't keep going for much more, unless there's some outrageous news related to the move.
This idea came from a conversation with Yacine Kanoun here, and I coded it into an indicator.
Credit where credit is due (right Yacine?)...
Cheers,
Ivan Labrie.
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保護スクリプト
このスクリプトのソースコードは非公開で投稿されています。 However, you can use it freely and without any limitations – learn more here.
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。