OPEN-SOURCE SCRIPT
Trend Checker
An indicator that tell if market is trending or ranging, when the indicator is greater than 0.5 then market is trending, when the indicator is equal to 1 market is overbought/oversold.
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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