OPEN-SOURCE SCRIPT
已更新 TNT_Upgraded
The background of the indicator to show TrendingUp (Green) / TrendingDown (Red) / Range Bound (Blue) Regions.
The concept is very simple, at each candle we look at the size of the candle and use a moving average of these candle body size (ABS (close-open)) and compare it agains a double smoothened average, i.e. moving average of this average to find trending or not trending periods.
In the upgrade the moving average is now looking only at the current day for intraday timeframe, i.e. in the first 5 bars it is an average of last 5 values, for last 10 candles it is an average of 10 values with the max limited to 28 that is for candle 28 onwards the average is always for 28 candles for default values or as defined by user.
I find it useful primarily for entry in options, a green background is more favourable for call option buying, a red background is favourable for put option buying and blue background is more favourable for option selling.
The coloured ranges show the direction bias, this has been designed using RSI on 3 timeframes with different weight-ages, all customisable by the user.
PS, I only trade Bank Nifty for intraday, all my observations are driven only by Bank Nifty.
The concept is very simple, at each candle we look at the size of the candle and use a moving average of these candle body size (ABS (close-open)) and compare it agains a double smoothened average, i.e. moving average of this average to find trending or not trending periods.
In the upgrade the moving average is now looking only at the current day for intraday timeframe, i.e. in the first 5 bars it is an average of last 5 values, for last 10 candles it is an average of 10 values with the max limited to 28 that is for candle 28 onwards the average is always for 28 candles for default values or as defined by user.
I find it useful primarily for entry in options, a green background is more favourable for call option buying, a red background is favourable for put option buying and blue background is more favourable for option selling.
The coloured ranges show the direction bias, this has been designed using RSI on 3 timeframes with different weight-ages, all customisable by the user.
PS, I only trade Bank Nifty for intraday, all my observations are driven only by Bank Nifty.
發行說明
Minor code changes開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。