HPotter

DAPD - Daily Average Price Delta

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This indicator is similar to Bollinger Bands . It based on DAPD - Daily
Average Price Delta. DAPD is based upon a summation for each of the
highs (hod) for the 21 days prior to today minus the summation for
each of the lows (lod) for the last 21 days prior to today. The result
of this calculation would then be divided by 21.

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Open-source Skript

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 04/07/2014
// This indicator is similar to Bollinger Bands. It based on DAPD - Daily
// Average Price Delta. DAPD is based upon a summation for each of the
// highs (hod) for the 21 days prior to today minus the summation for
// each of the lows (lod) for the last 21 days prior to today. The result
// of this calculation would then be divided by 21.
////////////////////////////////////////////////////////////
study(title="DAPD - Daily Average Price Delta", shorttitle="DAPD - Daily Average Price Delta", overlay = true)
Length = input(21, minval=1)
xHighSMA = sma(high, Length)
xLowSMA = sma(low, Length)        
nDAPD = xHighSMA - xLowSMA
nTop = high + nDAPD
nBottom = low - nDAPD
plot(nTop, color=blue, title="Top DAPD")
plot(nBottom, color=blue, title="Bottom DAPD")