Here is another version of the Center of Gravity Timing indicator, popularized by Mostafa Belkhayate.
It simply calculates the distance from the current price from the average of median price (calculated over “period”) divided by the average of the candlesticks range (divided by 5) and calculated over “period”.
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//PRC_CenterOfGravityTiming | indicator //29.09.2022 //Nicolas @ www.prorealcode.com //Sharing ProRealTime knowledge // --- settings period = 5 level1 = 4 level2 = 8 // --- end of settings ul1 = level1 ul2 = level2 ll1 = -level1 ll2 = -level2 am = 0 ar = 0 am = summation[period](medianprice) ar = summation[period]((high-low)/5) am = am / period ar = ar / period if ar <> 0 then o = (open-am)/ar hh = (high-am)/ar l = (low-am)/ar c = (close-am)/ar endif return ul1 style(dottedline2) coloured("magenta") as "Upper level 1",ul2 style(dottedline2) coloured("magenta") as "Upper level 2",ll1 style(dottedline2) coloured("magenta") as "Lower level 1",ll2 style(dottedline2) coloured("magenta") as "Lower level 2", o coloured("gray"), hh coloured("red"), l coloured("red"), c coloured("white") |
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repainting as cog or not repainting?
It doesn’t repaint.