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Pratik_4Clover
Aug 12, 2020 5:05 AM

Market Extremities 

Nifty 50 IndexNSE

Description

Here I'm proposing an indicator to measure market extremities, it is different than usually used STDv function and has a much simpler underlying mechanism. However, what you will compromise by it is that it is not going to work efficiently like STDv and you will need to use some form of trend and momentum indicators along with it. Not efficiently doesn't mean not tradable, in fact, this is what I use over STEDv myself to reduce the noise of Bollinger Bands.

This indicator is only designed to catch the highs and lows of the market during intraday. It works across all markets and it is surprisingly good at it and has certain predictive nature since the price seems to hang around the extreme lines. Having said that, an astute trader can trade this for both breakouts and mean reversion strategies.

For reference here is one chart marked


This is for educational purpose only-
Past performance is no indicator of future success and author takes no responsibility for the trader's actions.

Enjoy~

Release Notes

Updated to accommodated V5 and some minor changes

Also added new things.

Enjoy!
Comments
priyadrganeshamurthi
unable to see script from today.please update script
Pratik_4Clover
priyadrganeshamurthi
@Pratik_4Clover, thanks lots
priyadrganeshamurthi
Unable to see lines from today morning.please update
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