The intent is to provide a visualization of at multiple scales, without having to untangle those that my overlap each other.
It doesn't overlay a price-chart as written; it could, but IMHO that would be redundant. It's intended to augment oscillators and other kinds of indicators that don't necessarily scale with a price chart.
The script does not attempt to provide buy or sell triggers, but rather, to provide a visualization tool and a line-drawing tech-demo.
- Calculate deltas forwards, not backwards
Default to absolute values, overlay=true
Reverted to tip-first drawing order, which is simpler and actually draws the oldest visible lines.
Note #1: This indicator repaints by nature.
Note #2: It is not intended to provide buy or sell signals.
Adjusting the "Log(time) Factor" parameter will shrink or stretch the summary to your taste (use 0 for linear time.)
(Linear time in white, Log time in yellow)
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 a publication is governed by House Rules. You can favorite it to use it on a chart.