Peso Pros Trend Detector
When green line is above red line, there are more bulls than bears present and this is an indication of the current trend on your timeframe. When the lines cross, you can start looking for an exit to a trade or an entry for the opposite direction based on your price action and strategy.
When there is a difference between the bulls and bears of more than 15% then a vertical line will print on the indicator showing the dominant power (either bulls or bears) during the period. When the two lines are moving away from each other then the trend is moving in favor of the dominant power (the one on top).
The top level indicates the stronger force. The lower level is the weaker force. Once you see a cross you can take a trade in the dominant direction if bulls and bears are moving away from each other (further apart in the power struggle). So if you are looking to short the Peso for example and you see a trend line break and a level break + the bulls are getting weaker in the indicator while the bears are getting stronger (price moving away from each other) then you have extra confirmation for a sell trade. As the bulls and bears difference in power shrinks and the green and red lines come closer together you can confirm an exit entry and wait for another entry after a pullback.
Login to your Peso Pros member account to watch the instructional video for more information and a deeper understanding of this indicator.
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact ShawnGervais directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact ShawnGervais directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.