Price movement indicator by Wilson-IV

trendanalysis pricemovements trendstrength

This indicator shows us if the price is moving up or down based on the ratio of current price vs previous bar.
If this ratio is above 1 then this indicates that the price is increasing, while if the ratio is below 1 the price is decreasing.

HOW TO USE:
Set the desired EMA length, number of previous bars to compare with and offset.

Markets:
It can be used to all markets.

Release Notes:

- Potential SHORT and LONG entries
SHORT = red circle
LONG = green circle
- Signal line (blue)

Release Notes:

Removed unnecessary plots and variables.

Release Notes:

HMA added to bring more smoothness

Release Notes:

HMA Offset added

Release Notes:

Entry points are clear now.
Green - LONG
Red - SHORT

Release Notes:

Added SMA length for pricecomparison n-bars back
EMA set to 100
Offset set to 25

Release Notes:

Minor bug fixed

Release Notes:

Chart error fixed

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.

Want to use this script on a chart?