Balance Step
Robert Krausz's Balance Step, as described in his Fibonacci Trader software, for TradingView. It's a simple moving average of the last N Balance Points of a timeframe, drawn as a step line, with the next period's level projected forward.
HOW IT WORKS
• Balance Point (BP) of a period = (high + low + close) / 3.
• Balance Step = simple moving average of the last N Balance Points (default 5) of the selected timeframe.
• Each period shows the value known at the previous period's close, so the line is flat across a period and steps at the next one.
HOW TO USE IT
The Balance Step is a slow balance line. Price above it shows strength, price below it shows weakness. Since the next period's level is drawn in advance, you can use it as a reference for the coming period. Several timeframes together (for example daily, weekly and monthly) show the balance of each time horizon on one chart. It's a reference level, not a signal generator.
INPUTS
• Length (default 5): the number of Balance Points averaged, shared by all periods.
• Own Period (default D): always on.
• Next Period (default W): off by default.
• High Period (default M): off by default.
• Each period has its own line color, width and style in the Inputs tab.
DRAWING AND LIMITATIONS
• On a chart at the Own Period, each bar's value is drawn one bar forward, so the next period's level sits one bar past the last bar.
• On a chart below a period (for example, the weekly Balance Step on a daily chart), each bar shows the value in force for its period. After the last bar, the line continues to the period's end. It then steps to the next period's level, which is calculated from the current period so far, and runs across the next period. That projected part changes until the current period closes.
• History never repaints: each period uses only the previous, completed period's values.
• Own is drawn on charts at or below its Period. Next and High are drawn only on charts below theirs.
CREDITS
The concept is Robert Krausz's (Fibonacci Trader). The code is my own open-source implementation.
HOW IT WORKS
• Balance Point (BP) of a period = (high + low + close) / 3.
• Balance Step = simple moving average of the last N Balance Points (default 5) of the selected timeframe.
• Each period shows the value known at the previous period's close, so the line is flat across a period and steps at the next one.
HOW TO USE IT
The Balance Step is a slow balance line. Price above it shows strength, price below it shows weakness. Since the next period's level is drawn in advance, you can use it as a reference for the coming period. Several timeframes together (for example daily, weekly and monthly) show the balance of each time horizon on one chart. It's a reference level, not a signal generator.
INPUTS
• Length (default 5): the number of Balance Points averaged, shared by all periods.
• Own Period (default D): always on.
• Next Period (default W): off by default.
• High Period (default M): off by default.
• Each period has its own line color, width and style in the Inputs tab.
DRAWING AND LIMITATIONS
• On a chart at the Own Period, each bar's value is drawn one bar forward, so the next period's level sits one bar past the last bar.
• On a chart below a period (for example, the weekly Balance Step on a daily chart), each bar shows the value in force for its period. After the last bar, the line continues to the period's end. It then steps to the next period's level, which is calculated from the current period so far, and runs across the next period. That projected part changes until the current period closes.
• History never repaints: each period uses only the previous, completed period's values.
• Own is drawn on charts at or below its Period. Next and High are drawn only on charts below theirs.
CREDITS
The concept is Robert Krausz's (Fibonacci Trader). The code is my own open-source implementation.
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.