OPEN-SOURCE SCRIPT
R.E.Signal Levels
The original R.E.Signal marks a bar as a range expansion once price has already travelled far enough to qualify it. The marker tells you the move happened. It does not tell you, beforehand, what price would make it happen.
That price is knowable at the open. Both inputs to the threshold are fixed by the previous bar: the previous close, and the previous bar's true range. So the level at which the current bar becomes an expansion is already determined before the bar does anything at all.
This plots those two levels. Two dots, one above and one below, sitting just ahead of the forming bar: the prices at which this bar becomes an expansion up or an expansion down. Same arithmetic as the original, read forwards instead of backwards.
WHAT COUNTS AS AN EXPANSION
Two conditions, and only two. The travel from the previous close has to exceed the previous bar's true range. And the close has to finish on that side of the previous close, above it for an expansion up, below it for down.
The first condition is what the dots draw. Saying the high must exceed the previous close plus the previous true range is the same statement as saying the travel from the previous close must exceed that range, but the level form is the one you can put an order at. Confirmed expansions print as triangles once both conditions are met.
VOLUME CONFIRMATION, optional, on by default. It shades the background on expansions where volume also rose against the previous bar, green for up and red for down. An expansion on rising volume and one on falling volume are different events and should not look identical. The shading applies across all history, so you can scan back through how a market has behaved, and there is a faint mode that also shades the ones volume did not confirm.
Both the triangles and the shading evaluate live rather than waiting for the close, which is the original's behaviour and is kept deliberately. A mark can appear mid-bar and disappear again if the bar turns. On the volume side the live read is the useful one: a forming bar that has already out-traded the whole of the previous bar is telling you something, and it tells you most when that happens early. Waiting for the close would keep only the least interesting version of it. Both can be switched to closed-bar-only in the settings if you would rather have a mark that never un-marks. No future data is used in either mode.
Some instruments carry no volume at all, many indices and FX feeds among them. The filter checks for that rather than quietly shading nothing while appearing to work.
A dot being reached means the first condition is met. The second is not settled until the bar closes, and the alerts are named to keep those two apart. A level is where something becomes possible, not where it becomes true.
That price is knowable at the open. Both inputs to the threshold are fixed by the previous bar: the previous close, and the previous bar's true range. So the level at which the current bar becomes an expansion is already determined before the bar does anything at all.
This plots those two levels. Two dots, one above and one below, sitting just ahead of the forming bar: the prices at which this bar becomes an expansion up or an expansion down. Same arithmetic as the original, read forwards instead of backwards.
WHAT COUNTS AS AN EXPANSION
Two conditions, and only two. The travel from the previous close has to exceed the previous bar's true range. And the close has to finish on that side of the previous close, above it for an expansion up, below it for down.
The first condition is what the dots draw. Saying the high must exceed the previous close plus the previous true range is the same statement as saying the travel from the previous close must exceed that range, but the level form is the one you can put an order at. Confirmed expansions print as triangles once both conditions are met.
VOLUME CONFIRMATION, optional, on by default. It shades the background on expansions where volume also rose against the previous bar, green for up and red for down. An expansion on rising volume and one on falling volume are different events and should not look identical. The shading applies across all history, so you can scan back through how a market has behaved, and there is a faint mode that also shades the ones volume did not confirm.
Both the triangles and the shading evaluate live rather than waiting for the close, which is the original's behaviour and is kept deliberately. A mark can appear mid-bar and disappear again if the bar turns. On the volume side the live read is the useful one: a forming bar that has already out-traded the whole of the previous bar is telling you something, and it tells you most when that happens early. Waiting for the close would keep only the least interesting version of it. Both can be switched to closed-bar-only in the settings if you would rather have a mark that never un-marks. No future data is used in either mode.
Some instruments carry no volume at all, many indices and FX feeds among them. The filter checks for that rather than quietly shading nothing while appearing to work.
A dot being reached means the first condition is met. The second is not settled until the bar closes, and the alerts are named to keep those two apart. A level is where something becomes possible, not where it becomes true.
Skrypt open-source
W zgodzie z duchem TradingView twórca tego skryptu udostępnił go jako open-source, aby użytkownicy mogli przejrzeć i zweryfikować jego działanie. Ukłony dla autora. Korzystanie jest bezpłatne, jednak ponowna publikacja kodu podlega naszym Zasadom serwisu.
Public, timestamped track record. Free month of the desk: ivanlabrie.netlify.app
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
Skrypt open-source
W zgodzie z duchem TradingView twórca tego skryptu udostępnił go jako open-source, aby użytkownicy mogli przejrzeć i zweryfikować jego działanie. Ukłony dla autora. Korzystanie jest bezpłatne, jednak ponowna publikacja kodu podlega naszym Zasadom serwisu.
Public, timestamped track record. Free month of the desk: ivanlabrie.netlify.app
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.