OPEN-SOURCE SCRIPT
200 MAPD - Relative Price with candlesticks and divergence
This is a MAPD (moving average percent difference) indicator that plots the results in candlestick format and with an option to show divergencies of a specific look back period. It's built with 200 moving average, which cannot be adjusted. A divergence is when the actual asset price moves in the opposite direction than the MAPD.
MAPD measures the percent difference of the asset price from the moving average, in this case, 200 moving average.
MAPD is my favorite indicator because it's an leading indicator, capable of predicting upcoming directions pretty accurately if you learn how to use it and how it works on your specific asset. With candlesticks instead of line you can also apply your own price action techniques.
I created this to be somewhat of a substitute for the actual price of the asset, meaning that price action analysis should be applied on this indicator and asset price is used as a secondary to spot divergencies.
The chart showing on this description is my own discretionary plotting of technical aspects. Divergencies will be enabled per default, but my preference is to have them off and plot my own analysis. And turn them on to get an overview from time to time. You can also change the look back period for the divergencies as you like.
I would say it works best from 1 hour to 1 day, maybe 1 week if you're bottom fishing in a big bear trend.
If you try it out and like it i would love to hear how you find it useful in the comments, will be helpful for me and others :)
MAPD measures the percent difference of the asset price from the moving average, in this case, 200 moving average.
MAPD is my favorite indicator because it's an leading indicator, capable of predicting upcoming directions pretty accurately if you learn how to use it and how it works on your specific asset. With candlesticks instead of line you can also apply your own price action techniques.
I created this to be somewhat of a substitute for the actual price of the asset, meaning that price action analysis should be applied on this indicator and asset price is used as a secondary to spot divergencies.
The chart showing on this description is my own discretionary plotting of technical aspects. Divergencies will be enabled per default, but my preference is to have them off and plot my own analysis. And turn them on to get an overview from time to time. You can also change the look back period for the divergencies as you like.
I would say it works best from 1 hour to 1 day, maybe 1 week if you're bottom fishing in a big bear trend.
If you try it out and like it i would love to hear how you find it useful in the comments, will be helpful for me and others :)
开源脚本
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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。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
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。