OPEN-SOURCE SCRIPT
4th Day Performance After 3 Down Days
This Pine Script indicator analyzes market performance on the 4th day following 3 consecutive down days. It identifies when the close price is lower than the open for three consecutive days and calculates the price change from the 3rd day's close to the 4th day's close.
Key features include:
Entry and Exit Tracking: The script records the entry price (3rd day's close) and the exit price (4th day's close).
Performance Metrics: The script calculates and displays:
Total Profit/Loss (PnL) over all trades.
Total number of trades.
Count of positive and negative 4th-day outcomes.
Customizable Start Date: The user can set a start date to analyze historical data.
Interactive Table: A table on the chart displays all key metrics for easy reference.
Use Case:
This script is useful for traders and analysts who want to study historical patterns and determine if the 4th day's performance presents opportunities following three consecutive down days. It helps identify potential reversal or continuation patterns in market behavior.
Disclaimer:
This script is for educational and research purposes only and should not be considered financial advice. Past performance does not guarantee future results. Always conduct thorough analysis and consult a professional before trading.
Key features include:
Entry and Exit Tracking: The script records the entry price (3rd day's close) and the exit price (4th day's close).
Performance Metrics: The script calculates and displays:
Total Profit/Loss (PnL) over all trades.
Total number of trades.
Count of positive and negative 4th-day outcomes.
Customizable Start Date: The user can set a start date to analyze historical data.
Interactive Table: A table on the chart displays all key metrics for easy reference.
Use Case:
This script is useful for traders and analysts who want to study historical patterns and determine if the 4th day's performance presents opportunities following three consecutive down days. It helps identify potential reversal or continuation patterns in market behavior.
Disclaimer:
This script is for educational and research purposes only and should not be considered financial advice. Past performance does not guarantee future results. Always conduct thorough analysis and consult a professional before trading.
Skrypt open-source
W prawdziwym duchu TradingView autor tego skryptu opublikował go jako open source, aby inwestorzy mogli go zrozumieć i zweryfikować. Pozdrowienia dla autora! Możesz go używać bezpłatnie, ale ponowne użycie tego kodu w publikacji podlega Zasadom Regulaminu. Możesz go oznaczyć jako ulubione, aby użyć go na wykresie.
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