Early phase testing for our latest script, known as RS_MVP which highlights the Most Visited Price level in a specified range.
Different to a standard support/resistance indicator in that it targets the most visited price where orders have been executed. Doing so allows traders to visually see what price has the most potential orders which can help with entries as much as with stop loss placement.
You can see in this example how the price cluster leads to a trigger point. With the Most Visited Price being neither at a traditional support or resistance level, but markedly the following price action comes down to test the MVP several times. This gives potential entry opportunities, but also a useful tool for stop loss placements. We're going to explore this latter option more as we continue to build out this indicator, as many traders are looking for ways of avoiding unwanted stop hunts.
more @ traders-rucksack.co.uk
Different to a standard support/resistance indicator in that it targets the most visited price where orders have been executed. Doing so allows traders to visually see what price has the most potential orders which can help with entries as much as with stop loss placement.
You can see in this example how the price cluster leads to a trigger point. With the Most Visited Price being neither at a traditional support or resistance level, but markedly the following price action comes down to test the MVP several times. This gives potential entry opportunities, but also a useful tool for stop loss placements. We're going to explore this latter option more as we continue to build out this indicator, as many traders are looking for ways of avoiding unwanted stop hunts.
more @ traders-rucksack.co.uk
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.