Explanation:
Simple Moving Average (SMA):
The SMA is used as a baseline for the price trend.
Average True Range (ATR):
ATR is used to estimate the price volatility.
High Demand:
High demand is identified when the volume is greater than the SMA of the volume.
Forecast Maximum and Minimum Values:
The script forecasts maximum and minimum values based on the SMA and ATR.
Strategy Execution:
The strategy enters a long position during high demand periods and exits based on forecasted maximum and minimum values.
Visualization:
SMA, forecasted maximum and minimum values, and high demand periods are plotted on the chart.
Simple Moving Average (SMA):
The SMA is used as a baseline for the price trend.
Average True Range (ATR):
ATR is used to estimate the price volatility.
High Demand:
High demand is identified when the volume is greater than the SMA of the volume.
Forecast Maximum and Minimum Values:
The script forecasts maximum and minimum values based on the SMA and ATR.
Strategy Execution:
The strategy enters a long position during high demand periods and exits based on forecasted maximum and minimum values.
Visualization:
SMA, forecasted maximum and minimum values, and high demand periods are plotted on the chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.