Dziwne

Trend Indicator B-V2 (Momentum measuring) [Dziwne]

"Trend Indicator A-V2" and "Trend Indicator B-V2" are updated and improved versions of my initial trend indicators. Totally rethinking the code, adding highs and lows in the calculations, including some more customisation through colour schemes.

In practice, this indicator uses EMAs and Heikin Ashi to provide an overall idea of the trend.
  • The "Trend Indicator A-V2" is an overlay showing “Smoothed Heikin Ashi”.
  • The "Trend Indicator B-V2" uses the same values in a different way to measure the momentum of the trend and identify potential trend rejections.

Please, take into account that it is a lagging indicator.
Release Notes: Adding resolution customisation
Release Notes: -Added "MA Type" customisation possibility
-Replaced the "colour schemes" feature by a "base color inputs" feature (user friendly, easy to customise)
-Switched the title names to English for a better understanding
-Minor script optimisation
-changed ma_period defval to 7
-changed ma_period defval_smoothing to 7
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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