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Trender

Trender is a popular trailing stop indicator on the Bloomberg system and since I didn't have source code to work with, this is a close approximation of that indicator. Let me know if you spot any discrepancies and I will adjust accordingly.

This indicator is a trailing stop system along with a trend confirmation. When the blue line falls below the black line, that is a confirmation of a down trend and when it rises above the black line, it is a confirmation of an up trend. When the trender line is above the price, then that means the stock is in a general down trend and vice versa. I have color coded the trender line to show you when to buy or sell that stock to keep it easy.

This was a special request so let me know if you want to see more scripts from me or if you want something custom!
Release Notes: fixed a small typo
Release Notes: updated to make it consistent with my other indicators
Release Notes: updated an issue with the inputs
Release Notes: fixed issue with default resolution
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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