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wellthere

Market Direction

wellthere  
Trend Analysis
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0
trendanalysis
This script uses the ETF "VTI" to track the trend of the market
It requires 2 consecutive 5 day periods up or down to verify the direction otherwise the trend is neutral
It also uses a BB%B calculation to determine over bought and over sold conditions.
It will display numbers for 10 days ago, 5 days ago, downtrend today and uptrend today and finally the %B
Feel free to use or modify and offer suggestions for improvements
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

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