OPEN-SOURCE SCRIPT
Probability of Touch [racer8]
This indicator calculates the probability of touch for a stop loss...the probability that it will be triggered. Does it really calculate probability? Yes, it gives you an idea of the probability of being stopped out of a trade... but results are not guaranteed as this is a theoretical formula I developed on my own. Nevertheless, use this at your own discretion...and hope you enjoy it ;)
FYI: This indicator was inspired by the Probability of Touch concept in options trading!
FYI: This indicator was inspired by the Probability of Touch concept in options trading!
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.