OPEN-SOURCE SCRIPT
TP-Plus Indicator
This indicator calculates the current price range.
Calculate the slope or angle of the price velocity for both the fast and the slow period.
You can use it to spot the top and bottom of the range and wait for the price to break out of either level.
Once above the level top level or below bottom level, the price would move approximately the same distance as the height of the range.
Calculate the slope or angle of the price velocity for both the fast and the slow period.
You can use it to spot the top and bottom of the range and wait for the price to break out of either level.
Once above the level top level or below bottom level, the price would move approximately the same distance as the height of the range.
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