OPEN-SOURCE SCRIPT
st_market_phase
An indicator that determines the market phase. It is recommended to use it on the 1D timeframe with a period of 20-40. It is based on the behavior of one of the lines of the Ichimoku indicator, if the line moves up, the phase is growing, if it moves down, it is falling. Parameters: period
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 publication is governed by House rules. You can favorite it to use it on a chart.
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