OPEN-SOURCE SCRIPT
SNAKE TREND
Updated
This is a script I made which uses 6 moving averages to decide how to color the trend. These SMA are configured to run on 4H, 6H, 8H, 12H, 18H and 1D timeframes. The script will check how many of them are bullish or bearish.
I made this script to reference the current market environment while working on the lower time frames. You are free to use it as a filter in any script as long as you mention me in the description of it.
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GREEN:
If many SMAs are bullish, the snake will be completely green. If there is a green glow around it that means that all SMAs are bullish.
RED:
If many SMAs are bearish, the snake will be completely red. If there is a red glow around it that means that all SMAs are bullish.
PURPLE:
Purple will be used to indicate that some SMAs are not in the trend the snake was going.
MID:
The small blue line in the middle of the snake means that the 1day trend is bullish.
The small magenta line in the middle of the snakes means that the 1 days trend is bearish.
I made this script to reference the current market environment while working on the lower time frames. You are free to use it as a filter in any script as long as you mention me in the description of it.
.
.
.
.
.
.
.
.
GREEN:
If many SMAs are bullish, the snake will be completely green. If there is a green glow around it that means that all SMAs are bullish.
RED:
If many SMAs are bearish, the snake will be completely red. If there is a red glow around it that means that all SMAs are bullish.
PURPLE:
Purple will be used to indicate that some SMAs are not in the trend the snake was going.
MID:
The small blue line in the middle of the snake means that the 1day trend is bullish.
The small magenta line in the middle of the snakes means that the 1 days trend is bearish.
Release Notes
Based my original script on vumanchu B+ but the only thing I actualy used was the idea of using SMA's plotted on different timeframes. I removed all the leftover code from the original Vumanchu as the snake trend does not have anything to do with it and everything used in the script is written by me. I also made a much more sophisticated version of this script called snake trend premium. This will stay the free open source version.Release Notes
Republished as I had all my indicators open including a paid one while publishing which is not supported by the advertising and publishing rules.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.
Want to use this script on a chart?
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Telegram —> t.me/honestalgo
Telegram —> t.me/honestalgo
Telegram —> t.me/honestalgo
Telegram —> t.me/honestalgo
Telegram —> t.me/honestalgo
Telegram —> t.me/honestalgo
Disclaimer
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