Effort Versus Results

20 mar

This indicator, named "Effort Versus Results" (CCB), is designed to visually highlight price bars on a TradingView chart based on user-defined criteria. The purpose of this indicator is to identify potential trading opportunities or signal areas of interest for further analysis.
Once the inputs are specified, the indicator calculates the ratio of the first ATR to the average volume and compares it to the product of the multiplier and the ratio of the second ATR to the average volume. If the calculated condition is met, indicating that the first ATR relative to volume is greater than the second ATR relative to volume multiplied by the specified multiplier, the indicator colors the corresponding price bars red.

By customizing the parameters, traders can adapt the indicator to suit their trading strategies, risk tolerance, and market conditions. The highlighted bars may signify potential areas of increased volatility or trading activity, prompting traders to further investigate potential trading opportunities. However, as with any technical indicator, it is essential to use this tool in conjunction with other analysis techniques and risk management strategies for informed decision-making.

The indicator utilizes three main inputs that users can customize:

1. **ATR Length 1 (`atr_length_1`)**: This parameter allows users to specify the length of the first Average True Range (ATR) period. ATR is a measure of market volatility and represents the average range of price movement over a specified period.

2. **ATR Length 2 (`atr_length_2`)**: Users can set the length of the second ATR period, allowing for comparison between two different ATR values.

3. **Volume Length (`volume_length`)**: This input enables users to define the length of the volume period. Volume is a measure of the number of shares or contracts traded during a given period and is often used to confirm price movements.

4. **Multiplier (`multiplier`)**: Users can specify a multiplier value to adjust the threshold for comparison between the two ATR values divided by volume. This parameter allows for flexibility in setting the sensitivity of the indicator.

21 mar

Informacje o Wersji

This indicator, named "Effort Versus Results," is designed to visually highlight price bars on a TradingView chart based on user-defined criteria. Essentially, the goal is to spot unusual ease of movement of price, based on the relationship between price and volume. In essence, big price range, without big volume is highlighted via this script.

The purpose of this indicator is to identify potential trading opportunities or signal areas of interest for further analysis.
Once the inputs are specified, the indicator calculates the ratio of the first ATR to the average volume and compares it to the product of the multiplier and the ratio of the second ATR to the average volume. If the calculated condition is met, indicating that the first ATR relative to volume is greater than the second ATR relative to volume multiplied by the specified multiplier, the indicator colors the corresponding price bars red.

By customizing the parameters, traders can adapt the indicator to suit their trading strategies, risk tolerance, and market conditions. The highlighted bars may signify potential areas of increased volatility or trading activity, prompting traders to further investigate potential trading opportunities. However, as with any technical indicator, it is essential to use this tool in conjunction with other analysis techniques and risk management strategies for informed decision-making.

The indicator utilizes three main inputs that users can customize:

1. **ATR Length 1 (`atr_length_1`)**: This parameter allows users to specify the length of the first Average True Range (ATR) period. ATR is a measure of market volatility and represents the average range of price movement over a specified period.

2. **ATR Length 2 (`atr_length_2`)**: Users can set the length of the second ATR period, allowing for comparison between two different ATR values.

3. **Volume Length (`volume_length`)**: This input enables users to define the length of the volume period. Volume is a measure of the number of shares or contracts traded during a given period and is often used to confirm price movements.

4. **Multiplier (`multiplier`)**: Users can specify a multiplier value to adjust the threshold for comparison between the two ATR values divided by volume. This parameter allows for flexibility in setting the sensitivity of the indicator.