OPEN-SOURCE SCRIPT
Random Market «NoaTrader»
This is a simple script for generating random data shown as candles. The purpose of it is the following:
1- To see what works here. If everything is random and something is working, is there really any reason behind it?
2- To see what NOT works here! this is probably the most interesting part. Human behaviors are more likely to generate bubbles so theories like Elliot waves don't work here but do work on real charts! that is an interesting thing!
3- To find out the exact parameters defining a market which is a bit more complicated and deeper. If you look closely to candles you can say that it is not natural like other candle charts. If you have watched different timeframes enough, you have a sense of the difference between them. Why? What is natural? The volume? The wicks? The seasonality? The amount of randomness? The cycle of momentum change? ... If you can generate candles more similar to real ones it means you know the details of market much better!
P.S: the random function of trading view works differently on different symbols and timeframes..
1- To see what works here. If everything is random and something is working, is there really any reason behind it?
2- To see what NOT works here! this is probably the most interesting part. Human behaviors are more likely to generate bubbles so theories like Elliot waves don't work here but do work on real charts! that is an interesting thing!
3- To find out the exact parameters defining a market which is a bit more complicated and deeper. If you look closely to candles you can say that it is not natural like other candle charts. If you have watched different timeframes enough, you have a sense of the difference between them. Why? What is natural? The volume? The wicks? The seasonality? The amount of randomness? The cycle of momentum change? ... If you can generate candles more similar to real ones it means you know the details of market much better!
P.S: the random function of trading view works differently on different symbols and timeframes..
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.