OPEN-SOURCE SCRIPT
已更新 Range Polarity
Description:
This indicator is a "Rate of Change" style oscillator designed to measure market dynamics through the lens of price ranges. By utilizing the true range in conjunction with high and low separation, this script produces two distinct oscillators: one for positive price shifts and one for negative price shifts.
Key Features:
How to Use:
Primary signals are shifts from outlying positions or a positive/negative cross. An extreme reading itself can reveal an incoming reversal when calibrated with other indicators or compared with higher timeframes. Pairing "Range Polarity" with volume and momentum can create a comprehensive strategy.
In conclusion, be aware the base length controls the window for high/low contributions while the transform smoothing enhances the raw data through normalization within a tempered range to filter out insignificant fluctuations.
Merry Christmas to all and have a Happy New Year!
This indicator is a "Rate of Change" style oscillator designed to measure market dynamics through the lens of price ranges. By utilizing the true range in conjunction with high and low separation, this script produces two distinct oscillators: one for positive price shifts and one for negative price shifts.
Key Features:
- High/Low Isolation:
The script calculates the relative movement of upwards and downwards price movements over a user-defined period. This separation provides a nuanced view of market behavior, offering two separate signals for comparison.
- Dynamic Transform Smoothing:
A smoothing transform is applied to the signals, ensuring better outlier handling while maintaining sensitivity to price extremes. This makes the oscillator especially suited for identifying overbought and oversold conditions.
- Zero-Centered:
The zero line acts as a "gravity point," where shifts away or toward zero indicate market momentum. Signal crosses or reversals from extreme zones can signal potential entry or exit points.
- Outlier Identification:
Unlike traditional ATR based strategies (e.g., Keltner Channels), this indicator isolates high and low ranges, creating a more granular view of market extremes. These measurements can help identify shifts from the outlying positions and reversal opportunities.
- Visual Enhancements:
Multiple layers enhance the visual distinction of the positive and negative transformations. Horizontal lines at key thresholds provide visual reference for overbought, oversold, and equilibrium zones.
How to Use:
Primary signals are shifts from outlying positions or a positive/negative cross. An extreme reading itself can reveal an incoming reversal when calibrated with other indicators or compared with higher timeframes. Pairing "Range Polarity" with volume and momentum can create a comprehensive strategy.
In conclusion, be aware the base length controls the window for high/low contributions while the transform smoothing enhances the raw data through normalization within a tempered range to filter out insignificant fluctuations.
Merry Christmas to all and have a Happy New Year!
版本注释
Example Clarity开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
KP
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
KP
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。