OPEN-SOURCE SCRIPT
Updated Chips Average Line (volume price) by RSU
This is a very important volume-price indicator for me.
Displays the average cost of chips for the short term (30 days), medium term (60 days), and long term (200 days).
Chip lines act as support and resistance. The longer the trend days, the greater the strength.
usage:
1. Breakout: If the stock rises, it must be above the short-term chip line. And gradually rise.
2. Sequence: When a bullish trend is formed, the short-term stack is higher than the mid-term stack, and the mid-flag stack is higher than the long-term stack. When there is a bear trend, the order is reversed.
3. Intensive: When the three chip lines are dense, there will be a periodical resonance effect, and the long-term trend will rise or fall sharply
Displays the average cost of chips for the short term (30 days), medium term (60 days), and long term (200 days).
Chip lines act as support and resistance. The longer the trend days, the greater the strength.
usage:
1. Breakout: If the stock rises, it must be above the short-term chip line. And gradually rise.
2. Sequence: When a bullish trend is formed, the short-term stack is higher than the mid-term stack, and the mid-flag stack is higher than the long-term stack. When there is a bear trend, the order is reversed.
3. Intensive: When the three chip lines are dense, there will be a periodical resonance effect, and the long-term trend will rise or fall sharply
Release Notes
Added smoothing parameter to reduce the jaggedness of the indicator.Release Notes
Changes:All timeframes are supported.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.