The indicator is based on making the standard deviation (where the mean is a moving average) a two-lines cross indicator, by applying an MA over it. When the standard deviation is above the MA, there is considered to be enough volatility in the market for trends to form.
Blue background = There is ACTION in the market -- signals it should be safe to trade Gray background = No ACTION - DO NOT TRADE!
เอกสารเผยแพร่
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- Version 2.1 -
Added the Average Sigma Price Build-up signal to the indicator. This is usually quite a strong indication of possible ACTION in the market. Whenever this signals the background is less transparent, signaling a stronger volatility and a higher probability that the market will take ACTION.
Corrected a bug in the LSMA calculation.
เอกสารเผยแพร่
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- Version 2.2 -
Added checks against volatility indices in order to indicate whether or not there is volatility in the market. You can choose between a volatility index for Forex (EVZ) and two stock indices (VIX). The idea is that if there is volatility in the overall market, there is a higher probability that the market will take ACTION.
Blue bars (above) = There is ACTION in the market -- signals it should be safe to trade Gray bars (above) = No ACTION - DO NOT TRADE!
Teal bars (below) = There is force behind the ACTION! Gray bars (below) = Less volatility in the market, be careful!
เอกสารเผยแพร่
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- Version 2.3 -
Added a choppiness index filter as a third confirmation for volatility. This is the yellow row of bars. Yellow means there is no choppiness detected and should be safer to trade.
เอกสารเผยแพร่
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- Version 2.4 -
Changed out the choppiness index for the BERLIN Range Index, as it is less laggy.
เอกสารเผยแพร่
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- Version 2.5 -
Changed name to include the name of the algo this indicator is part of.
Added licensing information in the comments.
Added more information in the header comment to make the indicator easier to understand.
เอกสารเผยแพร่
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- Version 2.6 -
Added option to alert for orange bars in the BERLIN Range Index (upper row).
เอกสารเผยแพร่
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- Version 2.7 -
Made some options more clear and added dummy checkboxes to divide the settings into categories.
Added more VIX tickers to the VIX ticker list to cover more markets.
Added an option to adapt colors to bright mode (the TradingView color theme).
เอกสารเผยแพร่
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- Version 2.8 -
Added a custom VIX that is calculated in a similar waythat the Bitcoin Historical Volatility Index (BVOL24H) is calculated, to make a kind of "adaptive" VIX that works on any market.
Cleaned up a code a bit with line breaks.
เอกสารเผยแพร่
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- Version 2.9 -
Updated the script to work with new updated pine script rules.
I am trying to add the code to the pine editor but get an consistent error - * Script could not be translated from: ["SMA", "EMA", "RMA", "WMA" *. It would be great help if you can guide how to correct this! Thanks
Millenial_Monk
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Hi,
I really found the Action Locator 1.3 useful & I am still using it. But, this 2.0 version raised some questions & confusions in my mind. Is this indicator is the upgrade of the previous one or this is only for trend confirmations? In the previous one, your comments clearly mentioned when the bulls & bears are in control & how to read it. But with this indicator, you are focusing on the strength of the trend & volatility. So, this indicator should be used along with the previous indicator or this one replaces the previous one? If this one replaces, then how? Can you provide some details?
Thanks :)
hokeylowpokey
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@Millenial_Monk, read the design notes and the first few paragraphs of the pine script, and then check some of his other scripts. I think that will help with some confusion. it looks like the yellow bars are consistent with his 'Berlin Range Index' indicator, and blue seems like volatility and green/teal on the 3rd row is maybe less important of the three. I think action 2.0 is more focused on volatility and 1.3 is different in a way of filtering other noise
lejmer
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@hokeylowpokey, You are absolutely right. The point of ACTION Locator V2 is to tell us as much as possible about the current volatility of the market. In many ways it does the same job as ACTION Lovator V1, but ignores direction (because it is calculated differently*). It tries to filter out a lot of the noise but is not meant to tell you which direction to go. You can definitely combine the two versions! It does not replace V1, but it builds on what I learned while making V1.
Millenial_Monk
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@lejmer, @hokeylowpokey Thanks for the reply. The role & purpose of both indicators is now more clear to me. I will start using both indicators together as that will make more sense.
Flopp
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Hi! Maybe someone here can help me :) Im trying to code the "OK_to_buy" conditions, but the code is a bit above my level.
What would this be in code? : "OK_to_buy" = Yellow and Blue and Teal
Thank you!
TedPham
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Great Work!
mmrllmonta
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Just a Masterpiece here Anton!... absolute Masterpiece!
I am trying to add the code to the pine editor but get an consistent error - * Script could not be translated from: ["SMA", "EMA", "RMA", "WMA" *. It would be great help if you can guide how to correct this! Thanks