OPEN-SOURCE SCRIPT
Trends
Updated
The Trends indicator is created for trend trading and (Bitsgap) crypto bots of crypto assets over longer time periods.
Works best for 4h, Daily and Weekly candles (even Monthly), but unsuitable for hourly candles and day trading.
This indicator shows you if a crypto pair is in a Bear, Bull or Sideways market.
The idea is to simplify decision making when to sell or buy, or what pairs to use with trading bots.
Stick to the rule of not having bots in a Bear trend!
- Blue = Bull trend
- Red = Bear trend
- Green = Sideways trend - which can be profitable with trading bots
Works best for 4h, Daily and Weekly candles (even Monthly), but unsuitable for hourly candles and day trading.
This indicator shows you if a crypto pair is in a Bear, Bull or Sideways market.
The idea is to simplify decision making when to sell or buy, or what pairs to use with trading bots.
Stick to the rule of not having bots in a Bear trend!
- Blue = Bull trend
- Red = Bear trend
- Green = Sideways trend - which can be profitable with trading bots
Release Notes
Changed the sideways (neutral) trend color to yellow. A time to switch or modify bots, keep a close eye for a possible trend change.Changed default of emaSlowLen to 48 instead of 58, which changed color to yellow faster, when a trend changes from red to yellow faster.
So the default setting is now 32, 48, 60, 0.3.
Also, recommend using the 1D candles for this indicator.
Release Notes
Update preview image, using Terra, which have performed very well even though the market crash.Release Notes
Big 2.0 update to my Trends indicator. I'm using it together with bots on 15m candles, but it could also be useful for entering and exiting holdings. What's new:- Alerts! Now has the power to remind you when a trend changes
- New middle, EMA 75 line - with ON/OFF
- New defaults set to 100 and 50 EMA (more commonly used)
- ATR (Average True Range) smoothing multiplier, use to see where a trend change happens
- Script more readable
- Colors update
Release Notes
- Fixed bug with alertsRelease Notes
Trends 2.3:- Alarms are now fixed! So sorry that I released an untested, not working version. This one should do the trick!
- Default settings are corrected and set to best fit the Daily candles, preferably for BTC but can be used for any asset.
- The middle curve now hidden by default, as it serves no real use (you can set to EMA of your choice though)
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.
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Disclaimer
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