Excel Confidence %
Ranges between 0 and 100, usually at the extreme end of the scale.
A value of 0 indicates an unlikely move up, while 100 indicates a high probability of a rise.
You can try to use a slower version of the indicator (replacing 7 and 15 in the formula 3 and 5, respectively, and trade intersections, like stochastics.
You can also trade levels...
This script shows a sample of how to do confidence weighted scoring indicators and for loops with Pine. This indicator may or may not be found useful, it's intent is to provide a sample on how to create such an indicator and use certain Pine features.
- Defined points based on the confidence of RSI and Stochastic indicator
- Defined points based on...