OPEN-SOURCE SCRIPT
TASC 2024.02 Price-Time Filtering

█ OVERVIEW
This script implements a price-time trend filter proposed by Alfred François Tagher in the “Trend Identification By Price And Time Filtering” article from the February 2024 edition of TASC's Traders' Tips.
█ CONCEPTS
In his article, Alfred François Tagher proposed a rule set designed to minimize the impact of stochastic price movements, facilitating the identification of larger-scale trends. The rules are:
• If the most recent week's close exceeds the previous week's high, the trend is up.
• If the most recent week's close is below the previous week's low, the trend is down.
• The trend remains unchanged until one of the above conditions occurs.
Similar rules can also apply to monthly bars.
The author argues that this approach integrates characteristics of conventional price action and time dynamics filters, so he refers to it as price-time filtering.
█ CALCULATIONS
This script applies the above price-time filtering rules and offers multiple ways to view the results on a chart:
• In the "Oscillator" view mode, the script counts and displays the number of bars in the uptrend and downtrend.
• In the "Linebreak" view mode, the trend filter is presented in a format resembling a point-and-figure (P&F) chart, with the length of each bar corresponding to the high-low range of the respective trend.
• In both view modes, the script offers bar coloring of the main chart based on the identified trend.
This script implements a price-time trend filter proposed by Alfred François Tagher in the “Trend Identification By Price And Time Filtering” article from the February 2024 edition of TASC's Traders' Tips.
█ CONCEPTS
In his article, Alfred François Tagher proposed a rule set designed to minimize the impact of stochastic price movements, facilitating the identification of larger-scale trends. The rules are:
• If the most recent week's close exceeds the previous week's high, the trend is up.
• If the most recent week's close is below the previous week's low, the trend is down.
• The trend remains unchanged until one of the above conditions occurs.
Similar rules can also apply to monthly bars.
The author argues that this approach integrates characteristics of conventional price action and time dynamics filters, so he refers to it as price-time filtering.
█ CALCULATIONS
This script applies the above price-time filtering rules and offers multiple ways to view the results on a chart:
• In the "Oscillator" view mode, the script counts and displays the number of bars in the uptrend and downtrend.
• In the "Linebreak" view mode, the trend filter is presented in a format resembling a point-and-figure (P&F) chart, with the length of each bar corresponding to the high-low range of the respective trend.
• In both view modes, the script offers bar coloring of the main chart based on the identified trend.
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。
Tools and ideas for all Pine coders: tradingview.com/u/PineCoders/
Pine news broadcasts: t.me/PineCodersSquawkBox or twitter.com/PineCoders
TASC: traders.com/
Pine news broadcasts: t.me/PineCodersSquawkBox or twitter.com/PineCoders
TASC: traders.com/
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。
Tools and ideas for all Pine coders: tradingview.com/u/PineCoders/
Pine news broadcasts: t.me/PineCodersSquawkBox or twitter.com/PineCoders
TASC: traders.com/
Pine news broadcasts: t.me/PineCodersSquawkBox or twitter.com/PineCoders
TASC: traders.com/
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。