OPEN-SOURCE SCRIPT
QFL Drop %
This script helps Quick Fingers Luc strategy traders
The script works as follows
When a new low is formed lower than the previous one, the script calculates the percentage difference between them and stores it in an array
and calculates the average of the stored percentages, the maximum percentage, the minimum percentage
and displays them on the chart, this helps the trader to determine where the drop could go after the bottom is broken.
The script works as follows
When a new low is formed lower than the previous one, the script calculates the percentage difference between them and stores it in an array
and calculates the average of the stored percentages, the maximum percentage, the minimum percentage
and displays them on the chart, this helps the trader to determine where the drop could go after the bottom is broken.
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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