OPEN-SOURCE SCRIPT
Weeks_and_daily_bias
The Weekly Close Indicator tracks the closing prices of both the previous and current week. If the current week's close is higher than the previous week's close, it is represented by a green box. Conversely, if the current week's close is lower than the previous week's, a red box is shown. Days within the trend are highlighted with yellow boxes.
This indicator is primarily used to determine the directional bias of the weekly trend. A reversal will not be confirmed unless the current price closes within the range of the previous week.
This indicator is primarily used to determine the directional bias of the weekly trend. A reversal will not be confirmed unless the current price closes within the range of the previous week.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.