This helps find the right levels by showing darker colors for the most prominent areas. So if you want to see if you can sneak in a buy at some little hump, you can tell how likely it'll be by whether it's super light (unlikely, you'll have to set the level to like 0.25) or super dark (very likely, could go as high as 1.0%).
i dont fully understand this,i see blue and orange/brown
lighter and darker is equal to?
Rohol64
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I have the GB 3.3.2 ...
Rohol64
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Will this be for Tradingview or Gunbot?
vosechu
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@Rohol64, This is a decent approximation of how GB does Stepgain and Gain strategies. I'm working on one for BB strat.
Rohol64
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@vosechu, Looks very cool (like your hair). Would you be so kind to share afterwoods when it is finished? Do you prefer BB strategy or SG for the best results?
@syracusepro, Correct! The reason for this is that if you put this on a 75min graph it'll still show something very similar to what you would see on the 15min plot that GB uses. I do this with all my plots so I can have a 75min, 15min, 3min plot and all the indicators match up nicely. This indicator just works without tweaking the scale. :)
Example: With a normal EMA, for 15min interval I'll use 8bars and 16bars. But for 3min I need those to be 5 times bigger (15/3==5), so it has to be 40/80bars. But with 75min it's 1.6/3.2 (which TradingView rounds to 2/3...)
Hope that helps!
PavelKalinin
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oh! that is amazing! thank you!
vosechu
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@PavelKalinin, Thank you Pavel! I hope to be able to show a BB plot soon to explain that as well. In the meantime, if you want to try it out do a Bollinger Bands with Simple(SMA) length of 4 on a 15min interval. It's fairly close to what GB uses. Oh, and use ohlc4 instead of close (which I believe is what GB3.3.2 uses for Polo and Bittrex)
lighter and darker is equal to?