OPEN-SOURCE SCRIPT
Next Candle Price Prediction FAJ
next candle price prediction
Previous Day Data:
prevHigh, prevLow, and prevClose are calculated to capture the high, low, and close of the previous day. This is used to understand the previous day's price range and sentiment.
ATR Calculation:
The Average True Range (ATR) is a measure of volatility. We use it to estimate how much the price might move up or down from the previous close.
Predicted High and Low:
Using the previous close plus and minus the ATR value gives a range where the price might reach.
Predicted Target Price:
The script calculates a simple midpoint of the previous day's range to predict the target price for the next candle. This midpoint serves as a basic prediction, assuming price might oscillate within the previous day's range.
Plotting:
The script plots the predicted high, low, and target price as well as the previous day's high, low, and close for context.
Previous Day Data:
prevHigh, prevLow, and prevClose are calculated to capture the high, low, and close of the previous day. This is used to understand the previous day's price range and sentiment.
ATR Calculation:
The Average True Range (ATR) is a measure of volatility. We use it to estimate how much the price might move up or down from the previous close.
Predicted High and Low:
Using the previous close plus and minus the ATR value gives a range where the price might reach.
Predicted Target Price:
The script calculates a simple midpoint of the previous day's range to predict the target price for the next candle. This midpoint serves as a basic prediction, assuming price might oscillate within the previous day's range.
Plotting:
The script plots the predicted high, low, and target price as well as the previous day's high, low, and close for context.
Script open-source
In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.
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