PROTECTED SOURCE SCRIPT
Alpha Beta Gamma Indicator
The Alpha Beta Gamma Indicator is a technical analysis tool that uses the lowest and highest prices over a specified period to calculate three values - alpha, beta, and gamma. Alpha represents the percentage change from the lowest price over the period, beta represents the percentage change from the highest price over the period, and gamma represents the position of the current price relative to the range between the lowest and highest prices.
This indicator is displayed on the chart with different colors for each value, making it easy to identify the values' direction and strength. The buy and sell signals are generated based on two conditions. The first is when the gamma value is below a specified threshold, indicating a potential buying opportunity. The second is when the alpha value touches the beta value, which suggests that the trend is reversing, and a sell signal is generated.
Traders can adjust the indicator's parameters, such as the length of the period and the buy threshold, to suit their trading style and preferences. The Alpha Beta Gamma Indicator can be used in various financial markets, including stocks, forex, and commodities, to help identify potential trading opportunities and manage risk.
This indicator is displayed on the chart with different colors for each value, making it easy to identify the values' direction and strength. The buy and sell signals are generated based on two conditions. The first is when the gamma value is below a specified threshold, indicating a potential buying opportunity. The second is when the alpha value touches the beta value, which suggests that the trend is reversing, and a sell signal is generated.
Traders can adjust the indicator's parameters, such as the length of the period and the buy threshold, to suit their trading style and preferences. The Alpha Beta Gamma Indicator can be used in various financial markets, including stocks, forex, and commodities, to help identify potential trading opportunities and manage risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.