OPEN-SOURCE SCRIPT
已更新 Price Sextant
The provided Pine Script™ code is for a technical analysis indicator called "Price Sextant." This indicator helps visualize the price position relative to its linear regression and standard deviation levels. Here's a brief description:
Price Sextant Indicator:
Sextant Description:
In navigation, a sextant is an instrument used to measure the angle between two visible objects.
In the context of this indicator, the term "Sextant" is likely used metaphorically to describe the division of the price chart into six sections or zones based on the linear regression and standard deviation bands.
This indicator can help traders identify potential overbought or oversold conditions, as well as assess the strength and direction of the trend.
Please note that the effectiveness of the indicator depends on various factors, and it's advisable to use it in conjunction with other analysis tools for a comprehensive trading strategy.
Price Sextant Indicator:
- Purpose:
- The Price Sextant indicator aims to show the current price's deviation from the linear regression line by dividing the price chart into different zones or sextants.
Components: - Linear Regression: The script calculates a linear regression line based on the closing prices over a specified length (default is 50 bars).
- Standard Deviation Sections: It then computes standard deviation levels from the linear regression, creating upper and lower sections around the regression line.
- Scoring: Each section is assigned a numerical score, and labels with corresponding scores are displayed on the chart.
- Arrow and Midline: An arrow is drawn to indicate the current price's position in relation to the regression line and standard deviation bands. It changes color based in what section it is:
orange section shows a ranging price, below orange section -1 arrow turns red and show down trend and if arrow above +1 section it turns green and show strong up trend of price.
A midline is plotted to mark the position of the linear regression line.
Sextant Description:
In navigation, a sextant is an instrument used to measure the angle between two visible objects.
In the context of this indicator, the term "Sextant" is likely used metaphorically to describe the division of the price chart into six sections or zones based on the linear regression and standard deviation bands.
This indicator can help traders identify potential overbought or oversold conditions, as well as assess the strength and direction of the trend.
Please note that the effectiveness of the indicator depends on various factors, and it's advisable to use it in conjunction with other analysis tools for a comprehensive trading strategy.
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Visual Update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。
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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。