OPEN-SOURCE SCRIPT
Trendelicious
This indicator uses the rolling middle of highest and lowest points over a period of time to determine if the asset is currently in an uptrend or a downtrend.
It helps visualize the current trend.
Parameters :
1/ length : the length of the period of time over which the highest and lowest will be considered
2/ price source : the source that will be used for calculations
3/ aggressive mode : if true, the trend direction will be more responsive to price change and will move faster from uptrend to downtrend and the other way.
Use on a higher timeframes to avoid the noise (4h, 12h, 1d etc.)
DISCLAIMER:
This is not an advice to trade. Use at your own risk.
The author of this script cannot be held responsible for any losses incurred directly or indirectly by the usage of this indicator.
It helps visualize the current trend.
Parameters :
1/ length : the length of the period of time over which the highest and lowest will be considered
2/ price source : the source that will be used for calculations
3/ aggressive mode : if true, the trend direction will be more responsive to price change and will move faster from uptrend to downtrend and the other way.
Use on a higher timeframes to avoid the noise (4h, 12h, 1d etc.)
DISCLAIMER:
This is not an advice to trade. Use at your own risk.
The author of this script cannot be held responsible for any losses incurred directly or indirectly by the usage of this indicator.
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.
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.