OPEN-SOURCE SCRIPT
Updated WR% VARIATION
This indicator plot the change of the William R%.
We have 3 hlines, 50, 0, -50
You can use this as a confirmation indicator for different entries:
ENTRIES
When change is higher than 50 we have a strong LONG signal
When change is lower than -50 we have a strong SHORT signal
CONTINUATION TRADES
When we are in a Bull Market, candle is red and change crossover the 0 line, we have a LONG continuation trade
When we are in a Bear Market, candle is green and change crossunder the 0 line, we have a SHORT continuation trade
EXITS
When we are in a Bull Market, candle is green and change crossunder the 0 line, we have an Exit, or a Reversal
When we are in a Bear Market, candle is read and change crossover the 0 line, we have an Exit, or a Reversal
We have 3 hlines, 50, 0, -50
You can use this as a confirmation indicator for different entries:
ENTRIES
When change is higher than 50 we have a strong LONG signal
When change is lower than -50 we have a strong SHORT signal
CONTINUATION TRADES
When we are in a Bull Market, candle is red and change crossover the 0 line, we have a LONG continuation trade
When we are in a Bear Market, candle is green and change crossunder the 0 line, we have a SHORT continuation trade
EXITS
When we are in a Bull Market, candle is green and change crossunder the 0 line, we have an Exit, or a Reversal
When we are in a Bear Market, candle is read and change crossover the 0 line, we have an Exit, or a Reversal
Release Notes
Update.Release Notes
Update.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.