OPEN-SOURCE SCRIPT
Trend Master
Updated
Notes:
Tradingview has strict house rules of not allowing Heikin Ashi charts (and others beside normal price chart) to be used together with the indicator for trend analysis.
However, there may be users already using previous version of Trend Master but unfortunately has been hidden by Tradingview.
In view of this I decided to re-post the updated version, with the use of normal price chart only. Hope this help.
1. Trend Master, an indicator for trend analysis with the use of normal price chart.
2. Trend Master candle is in the form of solid candle without upper and lower tails.
The candle is in green color during an uptrend and red color during a downtrend.
When candle changes from red color to green color, it may signify the potential change from a down trend to an uptrend, vice versa.
3. Users can select the trend analysis model as they see fit, namely EMA , SMA , WMA and HMA .
4. Moving average lines of Trend Master are also included. Default is SMA13, the rest are SMA5, SMA21.
5. Users can turn on Rainbows if needed, it may help to detect the small changes of trend, if any.
6. A table of Indicator Name, Trend Model and Trend status is included. User can turn on to see the details.
Comments are welcome to further improve the accuracy of indicator that will benefit public users. Hope this help.
Disclaimer : attached chart is for the purpose of illustrating the indicator, no recommendation on buy/sell
Tradingview has strict house rules of not allowing Heikin Ashi charts (and others beside normal price chart) to be used together with the indicator for trend analysis.
However, there may be users already using previous version of Trend Master but unfortunately has been hidden by Tradingview.
In view of this I decided to re-post the updated version, with the use of normal price chart only. Hope this help.
1. Trend Master, an indicator for trend analysis with the use of normal price chart.
2. Trend Master candle is in the form of solid candle without upper and lower tails.
The candle is in green color during an uptrend and red color during a downtrend.
When candle changes from red color to green color, it may signify the potential change from a down trend to an uptrend, vice versa.
3. Users can select the trend analysis model as they see fit, namely EMA , SMA , WMA and HMA .
4. Moving average lines of Trend Master are also included. Default is SMA13, the rest are SMA5, SMA21.
5. Users can turn on Rainbows if needed, it may help to detect the small changes of trend, if any.
6. A table of Indicator Name, Trend Model and Trend status is included. User can turn on to see the details.
Comments are welcome to further improve the accuracy of indicator that will benefit public users. Hope this help.
Disclaimer : attached chart is for the purpose of illustrating the indicator, no recommendation on buy/sell
Release Notes
revision 2, 22Nov21, convert to scripts version 5. Table size adjustable. Allow input on Trend Moving Average Length. 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.
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.