OPEN-SOURCE SCRIPT
Custom Log 21 Week SMA
The Custom Log 21 Week SMA (CL21SMA) indicator is a custom technical analysis tool that calculates and plots the log values of the asset's price relative to its 21-week simple moving average (SMA). This indicator can be used to identify potential trends and price deviations from the moving average.
The CL21SMA indicator performs the following calculations:
Compute the 21-week simple moving average (SMA) of the asset's closing price.
Calculate the log values by dividing the closing price by the 21-week SMA and then taking the base-10 logarithm of the result.
Plot the log values on the chart.
The CL21SMA indicator can help traders to:
Identify potential trends: A positive log value suggests that the price is above the 21-week SMA, indicating a potential uptrend. Conversely, a negative log value implies that the price is below the 21-week SMA, suggesting a potential downtrend.
Detect price deviations: Significant deviations from the 21-week SMA, as indicated by the log values, may highlight potential overbought or oversold conditions, which could prompt traders to take appropriate positions.
Please note that the CL21SMA indicator is best suited for longer-term analysis and should be used in conjunction with other technical indicators and trading strategies to improve the overall decision-making process.
The CL21SMA indicator performs the following calculations:
Compute the 21-week simple moving average (SMA) of the asset's closing price.
Calculate the log values by dividing the closing price by the 21-week SMA and then taking the base-10 logarithm of the result.
Plot the log values on the chart.
The CL21SMA indicator can help traders to:
Identify potential trends: A positive log value suggests that the price is above the 21-week SMA, indicating a potential uptrend. Conversely, a negative log value implies that the price is below the 21-week SMA, suggesting a potential downtrend.
Detect price deviations: Significant deviations from the 21-week SMA, as indicated by the log values, may highlight potential overbought or oversold conditions, which could prompt traders to take appropriate positions.
Please note that the CL21SMA indicator is best suited for longer-term analysis and should be used in conjunction with other technical indicators and trading strategies to improve the overall decision-making process.
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。
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。
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。