OPEN-SOURCE SCRIPT
Trending True Range
Display a smoothed true range during trending markets, thus filtering any measurement occurring during ranging markets. Whether the market is trending or ranging is determined by the position of the efficiency ratio relative to its Wilder moving average.
Settings
Usage
If you are not interested in volatility during ranging markets, this indicator might result useful to you. An interesting aspect is that it both measures volatility, but also determine whether the market is trending or ranging, with a zero value indicating a ranging market.
Indicator against Atr, with both length = 14, our indicator might be easier to interpret.
Note
Thx to my twitter followers for their suggestions regarding this indicator. I apologize if it's a bit short, the original code was longer and included more options, but forcing a script to be lengthy is a really bad idea, so I stayed with something less flashy but certainly more practical, "classic Grover" some might say.
Thx for reading!
Settings
- Resolution : resolution of the indicator
- Length : period of the efficiency ratio and the Wilder moving averages used in the script
Usage
If you are not interested in volatility during ranging markets, this indicator might result useful to you. An interesting aspect is that it both measures volatility, but also determine whether the market is trending or ranging, with a zero value indicating a ranging market.
Indicator against Atr, with both length = 14, our indicator might be easier to interpret.
Note
Thx to my twitter followers for their suggestions regarding this indicator. I apologize if it's a bit short, the original code was longer and included more options, but forcing a script to be lengthy is a really bad idea, so I stayed with something less flashy but certainly more practical, "classic Grover" some might say.
Thx for reading!
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
Check out the indicators we are making at luxalgo: tradingview.com/u/LuxAlgo/
"My heart is so loud that I can't hear the fireworks"
"My heart is so loud that I can't hear the fireworks"
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
Check out the indicators we are making at luxalgo: tradingview.com/u/LuxAlgo/
"My heart is so loud that I can't hear the fireworks"
"My heart is so loud that I can't hear the fireworks"
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。