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nashuald

TP-Plus Indicator

nashuald  
Bands and Channels channelbreak
39
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bandsandchannels channelbreak
This indicator calculates the current price range.
Calculate the slope or angle of the price velocity for both the fast and the slow period.
You can use it to spot the top and bottom of the range and wait for the price to break out of either level.
Once above the level top level or below bottom level, the price would move approximately the same distance as the height of the range.
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

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