pete363

Average Pip Movement

Average Price Movement inidcator displays the high/low for the period over time. On top of that an 8 period exponential moving avergae is attached
to get average movement over time. It provides, for eg. on a Daily chart , gives a day range and this can be used to book profits or place stop loss.
It is very simple indicator to provide price range over time.

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
//@version=2

// Average Price Movement inidcator displays the high/low for the period over time. On top of that an 8 period exponential moving avergae is attached
// to get average movement over time. It provides, for eg. on a Daily chart, gives a day range and this can be used to book profits or place stop loss. 
// It is very simple indicator to provide price range over time.

study("Average Pip Movement")

highTimeFrame = input(title="Time Frame " , type=string,defval="D")
average = input(title="Average EMA", type=integer, defval=8)
data  = security(tickerid,highTimeFrame,high-low)
ema = ema(data,average)

plot(data,color=blue, linewidth=1)
plot(ema,color=red,linewidth=2)