OPEN-SOURCE SCRIPT
Price - Mean Reversion Expansion
Aktualisiert
A simple indicator, to plot the quantitatively the reversion and expansion of price from a set of means.
A green bar plots prices above the set of means. A bar plots prices below the set of means. A blue bar plots price entangled in the means. The height of the bars denotes the far-ness from the set of means.
A blue envelope over the bars is the average of this reversion/expansion. A "crossover" of any bar (red/green) over this envelope is indicated by a "green dot" a "crossunder" of any bar (red/green) under this envelope is indicated by a "red dot".
The small trend strength table (when enabled) on the right side below show in a easy manner the data presented in the "Mean Angles" indicator. Refer to description there for more details.
A green bar plots prices above the set of means. A bar plots prices below the set of means. A blue bar plots price entangled in the means. The height of the bars denotes the far-ness from the set of means.
A blue envelope over the bars is the average of this reversion/expansion. A "crossover" of any bar (red/green) over this envelope is indicated by a "green dot" a "crossunder" of any bar (red/green) under this envelope is indicated by a "red dot".
The small trend strength table (when enabled) on the right side below show in a easy manner the data presented in the "Mean Angles" indicator. Refer to description there for more details.
Versionshinweise
- Added Price Delta, scaled price performance
Added an overlap of scaled price movement vis-a-vis the expansion and contraction. Clearly identifies the trend changes and objectively defines expansion and reversion.
Versionshinweise
- Option to select another symbol (benchmark) instead of the chart symbol
This option will help in measuring the reversion / expansion vis-a-vis broader benchmark when placed side-by-side. When the other symbol (benchmark is ticked, the envelope will be of orange color and not the usual blue color. This will help in quick identification.
Refer to
The lower plot is orange envelope, that of the benchmark. We can clearly observe regions where the symbol followed the benchmark, outperforms or lags the benchmark. This analysis can be done over multiple timeframes.
Versionshinweise
- Fixed other symbol EMA calculations when valid mean length of symbol starts later than benchmark
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
Möchten Sie dieses Skript auf einem Chart verwenden?
Haftungsausschluss
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