XaviZ

[ALERTS] Range Filter

"This is an experimental study designed to filter out minor price action for a clearer view of trends.

Inspired by the QQE's volatility filter, this filter applies the process directly to price rather than to a smoothed RSI .

First, a smooth average price range is calculated for the basis of the filter and multiplied by a specified amount.
Next, the filter is calculated by gating price movements that do not exceed the specified range.
Lastly the target ranges are plotted to display the prices that will trigger filter movement.

Custom bar colors are included. The color scheme is based on the filtered price trend."


Thanks to Donovan Wall...


Enjoy!

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what do the dark maroon candles with the green boarder indicate?
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how is it work with bitcoin on 18 hr or 6hr or 3 hr?
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Does it repaint? What are the strategy results?
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XaviZ dpanday
@dpanday, Have you seen if the script has security function? So it doesn't repaint because it hasn't.
I have tested the backtest and it gives better results in 2h and with ETH and TRX has 65% of profitability and 2.5 factor of profits always using "once per bar close" and with normal candles. No script is perfect in all cryptos you know. In other cryptos bad results. If you like the risk you can use "once per bar" but the signal is not confirmed although much better profit.
Soon I will publish the backtest.
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@XaviZ, Does this mean that if you use the security function at all that it will repaint?
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