pete363

Average Pip Movement

Average Price Movement inidcator displays the high/low for the period over time. On top of that an 8 period exponential moving avergae is attached
to get average movement over time. It provides, for eg. on a Daily chart , gives a day range and this can be used to book profits or place stop loss.
It is very simple indicator to provide price range over time.
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//@version=2

// Average Price Movement inidcator displays the high/low for the period over time. On top of that an 8 period exponential moving avergae is attached
// to get average movement over time. It provides, for eg. on a Daily chart, gives a day range and this can be used to book profits or place stop loss. 
// It is very simple indicator to provide price range over time.

study("Average Pip Movement")

highTimeFrame = input(title="Time Frame " , type=string,defval="D")
average = input(title="Average EMA", type=integer, defval=8)
data  = security(tickerid,highTimeFrame,high-low)
ema = ema(data,average)

plot(data,color=blue, linewidth=1)
plot(ema,color=red,linewidth=2)

Kommentare

Glad I found this.. awesome indicator.. using it for volume as my broker does not provide it... great job.
Antworten
This is an Excellent indicator ! Simple and superbly effective. A pity it seems a few people found it yet. Configure Time Frame = 5 ( 5 minutes ) if you are using 1 Minute charts to see it working. Otherwise , you will only see two straight lines and no information ( using it with the default day timeframe "D").
Antworten
Good tool. Can be used to highlight possible moves into Supply or Demand zones, reversal could be imminent on the large pip spikes. Thanks for sharing!
Antworten
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