dannyb888

TWD VPV Risk Range

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The 'TradingWithDan Volume Price Volatility Risk Range' indicator identifies two risk ranges based on the volatility and volume of the underlying asset. It then uses those to identify when the trend towards the top or bottom of the risk range is potentially reversing and issues a 'long' or 'short' signal.

The larger risk range is identified by the red and green lines is used to visualise the larger context of the price movement so when the top of the smaller risk range approaches the larger risk range line then the upward trending movement is potentially reaching exhaustion and there is a greater risk of downside. The opposite is also true when the bottom of the smaller risk range approaches the lower larger risk range line.

This indicator is designed to be used in a trending market, either up or down and if for example you have identified an asset that is in an uptrend, or an asset you wish to accumulate, you can take partial position entries at the 'buy' signals and take partial profits at the 'sell' signals. You can use it effectively in a none trending market, taking the outright short or long potions, but you will be at risk of a trend developing.

The indicator isn't designed to identify trends, but to identify sell and buy entries that occurs due to the natural Brownian motion of the price action.

It is designed for my style of trading where I do not enter the entirety of my intended position in one go and will take partial profits when there are price movements towards the top of the risk range if I am long and then put more of the position back on towards bottom of the risk range and vice versa if I am short an asset. It is especially useful for managing my long term core positions and finally I use the alerts to trigger automated trading bots for my positions using the signals.

It can be used on a wide range of assets and on all time frames.
Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact dannyb888 for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Public Library.

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Comments

Hi Man, can I try it?
+2 Reply
dannyb888 BruceYang
@BruceYang, added :-)
+1 Reply
It's look awesome can i try it
+1 Reply
dannyb888 obsessedRider42701
@obsessedRider42701, added :-)
Reply
Hi man, you can do acces for your script please :D
+1 Reply
@orekav, yes of course, I have sent you access!
Reply
orekav dannyb888
@dannyb888, thaks you are a crack
Reply
can I try and buy ?
Reply
how can I buy ?
Reply
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