OPEN-SOURCE SCRIPT
AverageTrueRangeConvergenceDivergenceV1sloth288
Simple indicator with the thought of merging MACD and ATR. The idea has come from trying to find a way to define sideways markets. Whipped this up quickly to explore the idea.
Feel free to throw in suggestions or even mention other open source indicators that define sideways markets well.
Simple instructions
If histogram green, breakouts/trade zone.
If histogram red, sideways/keep out.
Feel free to throw in suggestions or even mention other open source indicators that define sideways markets well.
Simple instructions
If histogram green, breakouts/trade zone.
If histogram red, sideways/keep out.
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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