This Scripts shows the Central Pivot Range width in the form of histogram.
The histogram is drawn based on the 0.5 as the middle value.
This script works for Daily, Weekly, Monthly and Yearly time frame. You can set the value using the settings based on the timeframe needed.
Below is the width Value analysis
• The Value above > 0.5 Sideways to Trading market
• The Value above > 0.75 Higher chances of Sideways market
• The Value below < 0.5 Possible Trending market
• The Value above < 0.25 Higher chances of Trending market
There are horizontal lines drawn at different levels 0.25, 0.5, 0.75, 1 to have good visual impact
This histogram gives the probable behavior of the of the market on the given time frame (Daily/Weekly/Monthly/Yearly)
The histogram is drawn based on the 0.5 as the middle value.
This script works for Daily, Weekly, Monthly and Yearly time frame. You can set the value using the settings based on the timeframe needed.
Below is the width Value analysis
• The Value above > 0.5 Sideways to Trading market
• The Value above > 0.75 Higher chances of Sideways market
• The Value below < 0.5 Possible Trending market
• The Value above < 0.25 Higher chances of Trending market
There are horizontal lines drawn at different levels 0.25, 0.5, 0.75, 1 to have good visual impact
This histogram gives the probable behavior of the of the market on the given time frame (Daily/Weekly/Monthly/Yearly)