Exertion Meter

Hello traders, today I wanted to present you something special. I present you the Exertion Meter!

Created from scratch, this idea is based on a theory of mine called "Exertion".

Exertion occurs when price moves beyond the previous bar's range thus it has "exerted itself".

The idea is that when price moves a lot, it exerts a lot of energy which eventually leads to calmer motion, usually in the direction price has exerted itself.

Now, when price has exerted itself a lot in a particular direction, it's telling you that it will likely continue in that direction.

Once this happens, it will gradually calm down until price begins the cycle again, exerting itself in either the same or opposite direction.

This theory is similar to the theory of expansion & contraction phases.

This indicator attempts to show you where price has exerted itself by giving you a two lines cross signal.

The default settings are recommended, but experimentation is encouraged to fit your own personal system.

Both settings control the standard deviation line ( aka . Upper Bollinger Band ).

Enjoy, and hit the follow button to get easy access to all my indicators and to follow my latest publications!
版本注释: Changed colors of standard deviation line (red > blue)
版本注释: Added a third parameter: (Line 1 Length)
版本注释: Added background colors to show when signal occurs :)
版本注释: changed background color.red to na.

本着真正的TradingView精神,该脚本的作者将其开源发布,以便交易者可以理解和验证它。为作者喝彩!您可以免费使用它,但在出版物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。