OPEN-SOURCE SCRIPT
Catastrophe Distance
Catastrophe Distance is a tool to visually explore the time between catastrophic price moves.
Catastrophes are defined with 2 variables:
drawdown_threshold: the amount of percent the price has to fall
lookback_period = the amount of last candles in which drawdown_threshold was reached.
Drawdown_threshold per default is 25% and lookback_period is 5, meaning per default if price moves -25% in the last 5 candles you have a catastrophe.
Feel free to play around with this values to fit all the events you consider a catastrophe.
This indicator does not provide signals. It however implies caution if the time since the last catastrophe is higher then the average time between catastrophes (of last x catastrophes).
This is marked by the label over the current price showing the actual and average time since last catastrophe turning from green to black.
Given that the distance between catastrophes is somewhat cyclical:
Maybe now is a good time to start phishing for low limit orders and reduce leverage?
Catastrophes are defined with 2 variables:
drawdown_threshold: the amount of percent the price has to fall
lookback_period = the amount of last candles in which drawdown_threshold was reached.
Drawdown_threshold per default is 25% and lookback_period is 5, meaning per default if price moves -25% in the last 5 candles you have a catastrophe.
Feel free to play around with this values to fit all the events you consider a catastrophe.
This indicator does not provide signals. It however implies caution if the time since the last catastrophe is higher then the average time between catastrophes (of last x catastrophes).
This is marked by the label over the current price showing the actual and average time since last catastrophe turning from green to black.
Given that the distance between catastrophes is somewhat cyclical:
Maybe now is a good time to start phishing for low limit orders and reduce leverage?
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.
Haftungsausschluss
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