OPEN-SOURCE SCRIPT
ATR Multiple from MA
The purpose of this indicator is to spot an over stretched price.
A stock that has price ratio of over 4x when measured from closing price to 50 SMA is considered as over stretched. An entry at this level post a higher risk of a pullback.
MA Dist/ATR of over 4x will be marked as Red color.
A stock that has price ratio of over 4x when measured from closing price to 50 SMA is considered as over stretched. An entry at this level post a higher risk of a pullback.
MA Dist/ATR of over 4x will be marked as Red color.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.