[BlockPandas]Trend Strength Index — Indicator by Hadean-Eon

This is a oscillator indicator focused on identifying trend.

Usage:

The TS(Trend Strength) line indicate the strength of a trend.
The SIG(Signal) line is the smoothed average of TS line.

When Trend Strength line is above 0, it means a trend emerges. The higher the line is, the stronger trend is.
When Trend Strength line is below 0 or struggling around 0, it means it's ranging now.

The Histogram is another visual representation of Trend Strength.
When Hist is DARK GREEN, it suggests that it is a Uptrend, when Hist is LIGHT GREEN, it suggests that MAYBE there is a bearish reversal.
Vise vera, when Hist is DARK RED, it suggests that it is a downtrend, when Hist is LIGHT RED, it suggests that MAYBE there is a bullish reversal.

Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact Hadean-Eon for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Community Scripts.

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.

Want to use this script on a chart?

Warning: please read before requesting access.