OPEN-SOURCE SCRIPT

The Beacon [racer8]

2 550
The Beacon detects when the current true range is higher than the previous highest true range.
When this happens, the beacon will either be blue or red.
Blue - bullish
Red - bearish
Enjoy ;)

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.