karthikmarar

VPA Trend Indicator

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This Trend Indicator is a complimentary Indicator for the VPA Analysis Indicator. This Indicator provides the Trend bands for the Short term , medium Term an Long Term Trends. Green colour Indicator that the trend is UP. Yellow colour indicates there is no trend an the movement is sideways. Re colour Indicates that the trend is down. The Indicator uses the "Random Walk Index " for Trend evaluation. Th Random walk Index removes the noises an provides better Trend evaluation compared to traditional Moving Averages. This a good complimentary Indicator to make better decision and understanding the VPA conditions.
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

Sir
Just a query did't understand why a middle band in trend indicator is always a yellow or green? Why Not Red?
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