Dynamic_Retracement_Target
Hello.
This script uses 3 moving averages. I used the ALMA moving averages with 34 , 144 and 610 periods.
The script chooses the highest moving average as well the lowest moving averge.
As the distance between the highest and lowest is known it calculate the targets superior end inferior as well the levels of retracement considering the highest and lowest moving average.
The periods, levels and targets can be set as you wish. I ask you to keep the diference among periods from 4x to 4.24x.
Lines inclined up and price above L.sup, look for a oportunity to buy untill the superior target, wich is your exit point
Lines inclined down and price under L.inf, look for a oportunity to sell untill the inferior target, wich is your exit point.
Enjoy ,coment
This script uses 3 moving averages. I used the ALMA moving averages with 34 , 144 and 610 periods.
The script chooses the highest moving average as well the lowest moving averge.
As the distance between the highest and lowest is known it calculate the targets superior end inferior as well the levels of retracement considering the highest and lowest moving average.
The periods, levels and targets can be set as you wish. I ask you to keep the diference among periods from 4x to 4.24x.
Lines inclined up and price above L.sup, look for a oportunity to buy untill the superior target, wich is your exit point
Lines inclined down and price under L.inf, look for a oportunity to sell untill the inferior target, wich is your exit point.
Enjoy ,coment