OPEN-SOURCE SCRIPT
Total Percent Movement
The total precent movement indicator charts the total movement (low to high) for a given interval. Use this indicator when analyzing a system for grid trading or when trying to gauge average movement.
The indicator plots three lines.
Sensible defaults are configured and may be changed in the inputs. The baseline provides a useful visual when determining practical grid width and should be adjusted based on your assumptions. The moving average defaults at 55 and helps smooth out extreme movement.
Use these tools to configure trades that have a high probability of occurrence.
Enjoy and happy wealth building!
The indicator plots three lines.
- Total movement (low to high)
- A simple moving average of the total movement.
- A baseline
Sensible defaults are configured and may be changed in the inputs. The baseline provides a useful visual when determining practical grid width and should be adjusted based on your assumptions. The moving average defaults at 55 and helps smooth out extreme movement.
Use these tools to configure trades that have a high probability of occurrence.
Enjoy and happy wealth building!
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.
Want to use this script on a chart?
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