Covax

Trend Risk Indicator (TRI)

The Trend Risk Indicator is a simple bands indicator made of 2 custom averages of candlesticks ranges calculated within the variable “BandBars” period.

Upper and lower channel bands width can be adjusted with the “Deviation” variable, which act as a simple factor to enlarge the spread between them.

When Close crosses over the upper band, it is a bearish signal and candlesticks are painted in Red.
When Close crosses under the lower band, it’s a bullish signal and candlesticks are painted in Green.

One of the most interesting indicators for 1 minute scalping. Recommended to use on Renko bars.

*drag to chart and pin to scale, also remove borders from candlesticks .
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Comments

Indicator can be used as inversive by combining parameters.
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