OPEN-SOURCE SCRIPT
Multi-Pair Trend Reversal Widget
This is a multi-currency-pair trend reversal widget, which picks currency pairs by overbought/oversold level and can be used in pair trading strategy. It shows tradable currency pairs as well as anticipates corresponding trend direction. Currency pairs (CPs) are ordered by importance. The first 5 CPs are highlighted (with blue bars) as majors. The additional 5 CPs are minors (in gray bars) and may be omitted. Orange star indicates crossover of the middle line, the mean, with red and green stars being early warning signals of a forthcoming uptrend and downtrend, correspondingly.
Mind that this widget is computationally intensive, having to calculate 10 assets. Nonetheless, please look at it as my proposal for future developments of Pinescript, i.e. embedding widgets in the chart. ;)
Mind that this widget is computationally intensive, having to calculate 10 assets. Nonetheless, please look at it as my proposal for future developments of Pinescript, i.e. embedding widgets in the chart. ;)
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 publication is governed by House rules. You can favorite it to use it on a chart.
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