OPEN-SOURCE SCRIPT
[QG] Dynamic Zones Value Chart
The classic value charts indicator has fixed overbought and oversold levels at 8 and 10 levels and the idea of adding dynamic zones around them instead of fixed levels is appealing.
During the strong trending movements, the overbought and oversold levels also dynamically move up or down.
I have used the dynamic zones code by @allanster.
The idea of using dynamic zones on value charts comes from a similar indicator available in mql4.
During the strong trending movements, the overbought and oversold levels also dynamically move up or down.
I have used the dynamic zones code by @allanster.
The idea of using dynamic zones on value charts comes from a similar indicator available in mql4.
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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