OPEN-SOURCE SCRIPT
lefrog_Price Range Waveform
Updated
The Price Range Waveform calculated the difference from the open to close in percentage based.
The "Critical Range" input field lets you calibrate the zone above which a background color will be triggered.
Very useful in evaluating price expansion/contraction cycles and probable bottoms.
Works on any ticker and any timeframe.
Modification of the "Critical Range" default value may be mandatory.
The "Critical Range" input field lets you calibrate the zone above which a background color will be triggered.
Very useful in evaluating price expansion/contraction cycles and probable bottoms.
Works on any ticker and any timeframe.
Modification of the "Critical Range" default value may be mandatory.
Release Notes
- Added the ability to color the signal based on the candle close.- Added the ability to plot the Waveform body with EMA instead of TEMA.
- Slight graphical improvements.
Release Notes
- Screenshot updatedRelease Notes
- Added a slower MA. Helps in spotting wider cycles- Code cleanup. Improved readability
Release Notes
- Modified ThumbnailRelease Notes
New in v1.6- Core calculation has been rewritten
- Bottom side of the waveform is now more relevant
- Added the ability to disable the signals from the property menu
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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