OPEN-SOURCE SCRIPT
Local Limit Alignment
Combines the trends of multiple local limits to provide a signal that represents how strongly they are aligned.
Each local limit has a value of either +1 or -1. The sum of all depths provides a signal.
The defaults are a minimum depth of 2 and a maximum of 4 resulting in upper and lower values between -3 and +3, and a total between -6 and +6.
Each local limit has a value of either +1 or -1. The sum of all depths provides a signal.
The defaults are a minimum depth of 2 and a maximum of 4 resulting in upper and lower values between -3 and +3, and a total between -6 and +6.
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.