OPEN-SOURCE SCRIPT
Updated Trend Force Histogram
A way to see if market is trending or not trending based on highest and lowest closing price. Market is considered to be trending when the indicator is above 0 (in blue) and ranging when under 0 (in red)
Quite simple but its a way to calculate the trend force since trend can be measured thanks to highest/lowest.
Quite simple but its a way to calculate the trend force since trend can be measured thanks to highest/lowest.
Release Notes
- Updated to v4- Replaced rising/falling
Check out the indicators we are making at luxalgo: tradingview.com/u/LuxAlgo/
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 publications is governed by House rules. You can favorite it to use it on a chart.
Want to use this script on a chart?
Check out the indicators we are making at luxalgo: tradingview.com/u/LuxAlgo/
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