OPEN-SOURCE SCRIPT
Elastic Range Weighted Moving Average
This indicator is similar to the Elastic Volume Weighted Moving Average, except it uses True Range instead of Volume.
This can be useful where volume data is unavailable (for instance, in forex), or if prices moved way too fast, such as the Swiss franc crash back in 2015.
Comparison:
Let me know if you want more features added to this indicator. I'll see what I can do.
Your feedback is always appreciated. Thank you.
This can be useful where volume data is unavailable (for instance, in forex), or if prices moved way too fast, such as the Swiss franc crash back in 2015.
Comparison:
Let me know if you want more features added to this indicator. I'll see what I can do.
Your feedback is always appreciated. Thank you.
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.