Plots support/resistance lines based on a neutral signal (white portion) of the Rail Line (variable moving average) for a period of time designated by the user (defaults to 9 bars). Support/Resistance lines will be removed after a period of tests and can be determined by the user (defaults to 26). Support/Resistance is deemed not as important or strong after several touches or tests. The trailer uses a combination of the calculation for the Rail Line (variable moving average) and an ATR to show the overall trend direction.
The indicator is centered around a Variable Moving Average. The Variable Moving Average (VMA) is a study that uses an Exponential Moving Average being able to automatically adjust its smoothing factor according to the market volatility.
In addition to the VMA, the indicator makes use of the ATR which measures market volatility by decomposing the entire range of an asset price for that period. The true range is taken as the greatest of the following: current high less the current low; the absolute value of the current high less the previous close; and the absolute value of the current low less the previous close.
เอกสารเผยแพร่
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ChangeLog1: changed default color theme ChangeLog2: fixed spelling error and adjusted precision from 2 to 4 decimal places
Hi, can it be in multiple timeframes? As RSI is available in multiple time-frames but it's not in numerous time frames could you please modify and make an indicator for multiple timeframes?
c2fy5i
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很棒，大小趋势共振。
s3raphic333
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Once again, needed more detailed description of the indicator. I apologize for the inconvenience. Thanks.
omprakaskumar
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@s3raphic333, Could you do that bro please? as i messaged above? "Hi, can it be in multiple timeframes? As RSI is available in multiple time-frames but it's not in numerous time frames could you please modify and make an indicator for multiple timeframes?
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s3raphic333
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@omprakaskumar, I am not able to add MTF. The way I have the support/resistance lines being drawn will always force an error in the code.
amrockstar89
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@s3raphic333, i have done it in MTF and working great . But like you said , I removed all support and resistance line , just kept rail line trend lines and i just needed them .