OPEN-SOURCE SCRIPT
Zone_orientation_indikator
The Indicator is an Simple Moving average Zone indicator.
If the price is below the MA and the MA is in a downtrend, the area will be red.
If the price is above the MA and the MA is in a uptrend, the area will be green.
If the price is above and the MA is in a downtrend it will be yellow.
If the price is below and the MA is in a uptrend it will be also yellow.
You can select the length of the MA and use it in the timeframe you would like.
Mainly it make it much easier to see visual, if you are in a long or short area or neutral.
Best regards
If the price is below the MA and the MA is in a downtrend, the area will be red.
If the price is above the MA and the MA is in a uptrend, the area will be green.
If the price is above and the MA is in a downtrend it will be yellow.
If the price is below and the MA is in a uptrend it will be also yellow.
You can select the length of the MA and use it in the timeframe you would like.
Mainly it make it much easier to see visual, if you are in a long or short area or neutral.
Best regards
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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