Grid System

This script plots a a square composed of 8 equilateral triangles ("grid"). User can set the frequency of calculation/interval by adjusting the 't' parameter.

Steps for calculating grid:
1. Find the highest high and lowest low for last 't' periods.
2. Calculate midpoint for prices during that interval (highest high + lowest low) / 2.
3. Center of the grid = {time, price midpoint}.

Volatility: If price is volatile for a given period, the area of the grid will expand, since the top and bottom sides are based on the highest high and lowest low for the period. So as range for a given period increases, the grid's area increases.

Support and resistance: The grid's center line often acts as the support / resistance line.

Trend Following: The example chart shows Cognex ( CGNX ) price using an interval of t=365. When the stock's trend was bullish , the area of the grids became increasingly larger and the y-coordinate of each grid was greater than that of the previous grid.

本着真正的TradingView精神,该脚本的作者将其开源发布,因此交易者可以理解和验证它。为作者加油! 您可以免费使用它,但是在发布中重复使用此代码受网站规则的约束。您可以收藏它以在图表上使用。



Dude.....well done!
500 代币
A wonderful indicator! Very useful when used at different time intervals. Thanks!!!!
+2 回复
which time frame is advisable to check this