Average Pip Movement
Average Price Movement inidcator displays the high/low for the period over time. On top of that an 8 period exponential moving avergae is attached
to get average movement over time. It provides, for eg. on a Daily chart, gives a day range and this can be used to book profits or place stop loss.
It is very simple indicator to provide price range over time.
to get average movement over time. It provides, for eg. on a Daily chart, gives a day range and this can be used to book profits or place stop loss.
It is very simple indicator to provide price range over time.
//@version=2
// Average Price Movement inidcator displays the high/low for the period over time. On top of that an 8 period exponential moving avergae is attached
// to get average movement over time. It provides, for eg. on a Daily chart, gives a day range and this can be used to book profits or place stop loss.
// It is very simple indicator to provide price range over time.
study("Average Pip Movement")
highTimeFrame = input(title="Time Frame " , type=string,defval="D")
average = input(title="Average EMA", type=integer, defval=8)
data = security(tickerid,highTimeFrame,high-low)
ema = ema(data,average)
plot(data,color=blue, linewidth=1)
plot(ema,color=red,linewidth=2)