OPEN-SOURCE SCRIPT
GBPNZD above/below count
This is similar to my earlier GBPNZD pairs slope indicator. This indicator determines if the close of a pair (highly correlated pairs to GBPNZD) is higher or lower than a common displaced moving average. If it is above, a count of 1 * corr*corr factor is assinged. For you programmers I multiply by corr*corr to erase the negative corr factor as the IF THEN statement will assign a 1 or -1. Note: I could not find an absolute value function, so corr^2 clears it. The spirit of this indicator, as with my others, is to sniff out underling movement in GBP or NZD to predict a trend change. The idea of the count comes from counting cards in blackjack. Toy around with chart time frames and the inputs to get a feel for it.
Read comments for changes to the code. I look forward to pros/cons comments.
Read comments for changes to the code. I look forward to pros/cons comments.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.