OPEN-SOURCE SCRIPT
Range of a source displayed in thirds
This indicator will take the value of any external source input and display how it has changed over time (the lookback period in settings). For the purposes of display here I'm using the WT1 line from Wavetrend with Crosses by LazyBear to provide a source input.
The highest and lowest value of the source over the lookback period are used to determine the highest and lowest point - the green and red lines at the top and bottom of the bands. This region is then mathematically split into three, such that the source (and its optional moving average line) can be defined as being in the top third, the middle or the bottom third.
Applications for this could be in risk management where you may wish to take on a larger position size when a certain indicator is in the top third, or decide that you want to enter / leave positions when the source crosses in / out of the extreme points.
The highest and lowest value of the source over the lookback period are used to determine the highest and lowest point - the green and red lines at the top and bottom of the bands. This region is then mathematically split into three, such that the source (and its optional moving average line) can be defined as being in the top third, the middle or the bottom third.
Applications for this could be in risk management where you may wish to take on a larger position size when a certain indicator is in the top third, or decide that you want to enter / leave positions when the source crosses in / out of the extreme points.
开源脚本
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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。
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。