OPEN-SOURCE SCRIPT
long_avg
This indicator helps you quickly see whether the series has a stationary
mean. For reference, view the indicator on VIX, which is thought to have a
long-term stationary mean. Best used on a monthly chart, since these won't
irritate the candle limit.
The red line traces the long-run mean of the series over time, while the blue
indicates its present value. The purple lines are one-standard deviation from
the mean.
mean. For reference, view the indicator on VIX, which is thought to have a
long-term stationary mean. Best used on a monthly chart, since these won't
irritate the candle limit.
The red line traces the long-run mean of the series over time, while the blue
indicates its present value. The purple lines are one-standard deviation from
the mean.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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