Keeping in mind of getting full potential of , As part of this script, is used as primary source to identify trend and execute the trades.
given as alternative option in place of .
used to identify trend, trade setup, and stop. Based on this, Color fillings on is updated. That will give clear idea of strength or weakness in any trading instruments.
used as alternative to identify trend, trade setup, and stop. Based on this, Color fillings on is updated. That will give clear idea of strength or weakness in any trading instruments.
As it is one of the oldest trend riding system, combined here with differentiation in color will help to go with the trend.
Input periods can be changed by users/traders as per their understanding and observations.
//Disclaimer: Idea of publishing this script is to identify the strength of the instrument using multiple confirmation.
//Disclaimer: Using this indicator, changing inputs, and trading decisions are up to the users/traders.
//Courtesy: Thanks to Richard , Alan Hull, and author of as this indicator/script inspired by , , and
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.