OPEN-SOURCE SCRIPT
AV_CACT
Adopted from CACT - AV is plotted as a dot on the chart
Formula of AV
AV = 3 periods of (High + Low + Close / 3)
If
Formula of AV
AV = 3 periods of (High + Low + Close / 3)
If
- AV < Close for a consecutive 3 bars = neutral to bullish
- AV > Close for a consecutive 3 bars = neutral to bearish
The 4th bar will be the trend confirmation bar:- AV < Close, confirm uptrend
- AV > Close, confirm downtrend
- AV < Close, confirm uptrend
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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