OPEN-SOURCE SCRIPT
*2.2 Aggregate Signal Indicator (trial)
How to Use the Indicator:
Trend Detection:
The aggregate trend score will plot above 0 for bullish conditions and below 0 for bearish conditions.
When the trend score is green, it indicates a positive (bullish) trend, while red indicates a negative (bearish) trend.
Visual Representation:
The blue line represents the aggregate trend score, while the grey line at 0 shows the neutral point.
The area between the trend score and the 0-line is filled with green (bullish) or red (bearish) based on the score's direction.
Confirming Trends:
Look for consistency in the trend score remaining above or below 0 to confirm a lasting trend.
Use this indicator alongside other trading strategies to filter out false signals and gain confirmation of market direction.
Customizable Inputs:
The indicator allows you to customize the settings for each individual indicator (e.g., lengths for EMA, ADX, RSI, MACD, etc.) to fine-tune the system to your preference or specific market conditions.
Trend Detection:
The aggregate trend score will plot above 0 for bullish conditions and below 0 for bearish conditions.
When the trend score is green, it indicates a positive (bullish) trend, while red indicates a negative (bearish) trend.
Visual Representation:
The blue line represents the aggregate trend score, while the grey line at 0 shows the neutral point.
The area between the trend score and the 0-line is filled with green (bullish) or red (bearish) based on the score's direction.
Confirming Trends:
Look for consistency in the trend score remaining above or below 0 to confirm a lasting trend.
Use this indicator alongside other trading strategies to filter out false signals and gain confirmation of market direction.
Customizable Inputs:
The indicator allows you to customize the settings for each individual indicator (e.g., lengths for EMA, ADX, RSI, MACD, etc.) to fine-tune the system to your preference or specific market conditions.
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.
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.
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.