Manual Backtest - Flat the ChartThis script is an utility tool for manual backtesting.
The main problem in backtesting a discretionary strategy is the bias of knowing the future result of the market, in this way all the market will be crushed into a flat line, this way you can avoid bias.
The way to use this indicator is easy and made by 4 step:
Step 1 : add to an asset you won't backtest and put the auto scale on
Step 2 : go to the asset you will backtest and scroll left until the date you want to start
Step 3 : use the replay function of tradingview (15 min chart won't go back more than 18 month)
Step 4: toggle off the indicator or remove from the chart (untill next asset to backtest)
That's not a complex indicator but is what you need to do a fair backtesting
Discretionary
Flow of RangeThe Flow of Range is calculated by averaging the range for the given bars for the short term oscillations, then averaging the average to determine long term runs.
Above 0 indicates bullish momentum, below 0 indicates bearish momentum.
Notice the behavior of the market when the range is increasing and decreasing - both on the long and short term oscillations.
The indicator should be used in a discretionary manner along with your usual preferred tools.
