OPEN-SOURCE SCRIPT
Carl's BOTTOM DETECTOR: Williams %R + normalized ATR
This script is based on Williams %r and normalized ATR.
When William%R indicates extreme oversold conditions
and the ATR indicates extreme volatility at the same time,
then it prints an arrow below the candle.
It is based on the concept that swing lows and market bottoms
are characterized by extreme oversold momentum and
extreme volatility.
The highest tf's like the daily, show you perfect market bottoms for btc.
If you zoom in it's still good to find swing highs and lows, if necessary
you can tweak the settings.
Next to that I added grey, red, and green vertical bands to the chart.
This is based on the VIX, the SPX volatility index.
Whenever the volatility of the S&P500 crosses above a specific level
it prints a colored background band behind the candle.
Grey means high volatility, red extreme volatility (like in the covid
crisis and 2008 crisis), and green means the same as grey, but indicates
it came after a red zone and could mean strong bullish bounce momentum.
You can tweak the thresholds for the grey/green and read areas.
When William%R indicates extreme oversold conditions
and the ATR indicates extreme volatility at the same time,
then it prints an arrow below the candle.
It is based on the concept that swing lows and market bottoms
are characterized by extreme oversold momentum and
extreme volatility.
The highest tf's like the daily, show you perfect market bottoms for btc.
If you zoom in it's still good to find swing highs and lows, if necessary
you can tweak the settings.
Next to that I added grey, red, and green vertical bands to the chart.
This is based on the VIX, the SPX volatility index.
Whenever the volatility of the S&P500 crosses above a specific level
it prints a colored background band behind the candle.
Grey means high volatility, red extreme volatility (like in the covid
crisis and 2008 crisis), and green means the same as grey, but indicates
it came after a red zone and could mean strong bullish bounce momentum.
You can tweak the thresholds for the grey/green and read areas.
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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