OPEN-SOURCE SCRIPT
Balance of Force (BOF)
Güncellendi
The script "Balance of Force" is an indicator that aims to provide insight into the bullish and bearish forces present in the market by analyzing the relationship between bullish and bearish true ranges. The indicator first calculates the bearish and bullish true ranges by taking the absolute difference between the open and close prices for each period and summing these values over a user-specified length. It then calculates the ratio of the bullish true range to the bearish true range and takes the natural logarithm of this value, resulting in the "bullish-bearish ratio".
The script then calculates the standard deviation of this ratio over a user-specified length to create a measure of volatility. Using this deviation and the dominant cycle, it then applies an exponential moving average to smooth the ratio. The indicator plots the smoothed ratio, the raw ratio, and the deviation of the ratio multiplied by 1, 2 and 3 in addition to filling the area between the deviation multiplied by 3 and the log(1) with red and green. The user can use the indicator to identify potential bullish or bearish market conditions by analyzing the relationship between the smoothed ratio and the log(1) and the deviation of the ratio.
The script then calculates the standard deviation of this ratio over a user-specified length to create a measure of volatility. Using this deviation and the dominant cycle, it then applies an exponential moving average to smooth the ratio. The indicator plots the smoothed ratio, the raw ratio, and the deviation of the ratio multiplied by 1, 2 and 3 in addition to filling the area between the deviation multiplied by 3 and the log(1) with red and green. The user can use the indicator to identify potential bullish or bearish market conditions by analyzing the relationship between the smoothed ratio and the log(1) and the deviation of the ratio.
Sürüm Notları
Added the option to use a different high/low true range instead of open/closeAçık kaynak kodlu komut dosyası
Gerçek TradingView ruhuna uygun olarak, bu komut dosyasının yazarı komut dosyasını açık kaynak olarak yayınlamıştır, böylece yatırımcılar betiği anlayabilir ve doğrulayabilir. Yazar çok yaşa! Ücretsiz olarak kullanabilirsiniz, ancak bu kodun yayında yeniden kullanımı Ev kurallarına tabidir. Bir grafikte kullanmak için favorilere ekleyebilirsiniz.
Bu komut dosyasını bir grafikte kullanmak ister misiniz?
Feragatname
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