PROTECTED SOURCE SCRIPT
Ranging Script For Cash Crew
Disclaimer:
THIS IS NOT A TESTED STRATEGY BY ANY MEANS AND SHOULD NOT BE TRADED UPON. ONLY USE IT TO LEARN AND I AM NOT GURANTING ANYTHING AS THIS IS NOT TESTED AND COULD VERY WELL NOT BE A GOOD INDICATOR. IT IS STILL IN INITIAL DEVELOPMENT PHASE.
The yellow lines above and below the candles are known as the entry/extension lines. They represent when there is a potential entry. The line above is for short entries and the line below is for long entries. The red line that is above the bottom yellow line, but below the candles is the exit point for a long position in the event that it entered one when the price crossed below the long entry line. The green line above the candle represents the short exit price in the event a position enters on that candle. The input labeled "TP Line Standard Deviation" adjusts the standard deviations of the last 20 candles high and open difference for above the lines above the candle and the last 20 candles open and low difference for the lines below the candle. These values gathered are then added to the open price of the candle to form the lines. The larger the number of deviations, the further it will go from the candles. The "Entry Multiplier" represents the multiplier size for the entry line. The larger it is, the further away from the candle open it will be. Once the position is entered, the tp should not change and it is the current value of the exit line.
THIS IS NOT A TESTED STRATEGY BY ANY MEANS AND SHOULD NOT BE TRADED UPON. ONLY USE IT TO LEARN AND I AM NOT GURANTING ANYTHING AS THIS IS NOT TESTED AND COULD VERY WELL NOT BE A GOOD INDICATOR. IT IS STILL IN INITIAL DEVELOPMENT PHASE.
The yellow lines above and below the candles are known as the entry/extension lines. They represent when there is a potential entry. The line above is for short entries and the line below is for long entries. The red line that is above the bottom yellow line, but below the candles is the exit point for a long position in the event that it entered one when the price crossed below the long entry line. The green line above the candle represents the short exit price in the event a position enters on that candle. The input labeled "TP Line Standard Deviation" adjusts the standard deviations of the last 20 candles high and open difference for above the lines above the candle and the last 20 candles open and low difference for the lines below the candle. These values gathered are then added to the open price of the candle to form the lines. The larger the number of deviations, the further it will go from the candles. The "Entry Multiplier" represents the multiplier size for the entry line. The larger it is, the further away from the candle open it will be. Once the position is entered, the tp should not change and it is the current value of the exit line.
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