OPEN-SOURCE SCRIPT
Max - min - ML - top/bottom GP
This script keeps track of historical max's and min's and calculates the midline and top/bottom GP fibs off that.
The way it calculates max/mins is unique as it's a two-step customizable process. In settings, there are two adjustable parameters; length and lookback.
The length parameter defines how many candles the max/min will be saved for. If the last recorded max/min happened longer than the length variable it will reset.
The lookback parameter comes into play when a max/min is reset. It simply looks back x candles and gets the new max/min from that
The way it calculates max/mins is unique as it's a two-step customizable process. In settings, there are two adjustable parameters; length and lookback.
The length parameter defines how many candles the max/min will be saved for. If the last recorded max/min happened longer than the length variable it will reset.
The lookback parameter comes into play when a max/min is reset. It simply looks back x candles and gets the new max/min from that
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.