- "Course Gradient Indicator" or
- "Punctual Deviaton of Course Gradient Indicator" or shortly
- "PDCG Indicator"
I developed this Indicator to identify potential changes in the course gradient (aka slope of course). If you want to know what kind of mathmatical operations where used for this, look at the source code below
Generally, i would say that the "SMA of Gradient" crossing above both the "MAG Smooth" and the "Indication" lines (sorry for the bad names btw. If you have better ideas for easier names, tell me) is a good indication for a rising course. Therefore - dichotomous - when it crosses below both other lines, it might be an indication for a falling course.
Please go ahead and experiment with this indicator.
Let me know what you think :)
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.