OPEN-SOURCE SCRIPT
Retr60Perc 5Bar Range
For the last 5 bars (including current bar) calculates the Range (highest high - lowest low). then it takes the Highest high and subtracts 60% of the Range to get the 60% Retracement price.
So when you click on the bar with the highest price in a rally, you can instantly have a price point to set enter your dip buy price (buy price at 60% of retracement range)
So when you click on the bar with the highest price in a rally, you can instantly have a price point to set enter your dip buy price (buy price at 60% of retracement range)
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.