lejmer

BERLIN Range Index | Panel version

The original problem: The choppiness index is great at finding ranging markets, but it is sometimes very slow, which means most of the time it only catches the end of a trend.

This indicator tries to solve this. It uses the choppiness index and filters it using a factor that is based on the standard deviation of the ATR.

The ATR based filter is calculated by first calculating the running standard deviation of the ATR, and then looking at that in relation to its recent low to find a filtering factor to use on the choppiness index . This makes the choppiness index more reactive to trends, but also slightly more likely to missidentify ranges.

This is the panel version of the indicator. It plots the index and min/max values, as well as background colors to tell you when it thinks the market is ranging or trending.

Yellow = Trending
Transparent gray = Ranging
Versionshinweise: - Version 1.1 -
  • Added option to use normalized true range in the ATR filter. This is now the default.
  • Changed color for exhausted trends from transparent gray to solid orange.
  • Changed color for weakening exhausted trend from transparent yellow to red.
Versionshinweise: - Version 1.1b -
  • Fixed bug where the indicator accidentally was used overlay mode.
Von Favorisierten Skripten entfernen Zu Favorisierten Skripten hinzufügen

Kommentare

is good to one hour timefrime?
Antworten
lejmer whoostyle
@whoostyle, I would say it works on any timeframe.
Antworten
What is the correct definition of the red and orange showing in this indicator?
Antworten
@Kuch, sorry see it in the code, but should clarify on the definition of red or orange from the indicator.
Antworten
@Kuch, Sorry about that. Not allowed to change the text once it is published, or I would add it to the description.
Antworten
Startseite Aktien-Screener Forex-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Preise Einen Freund empfehlen Hausregeln Hilfe Center Webseite & Brokerlösungen Widgets Charting Lösungen Lightweight Charting Library Blog & News Twitter
Profil Profileinstellungen Konto und Abrechnung Einen Freund empfehlen Meine Support Tickets Hilfe Center Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden