OPEN-SOURCE SCRIPT
Trend Identifier
Trend Identifier for 1D BTC.USD
It smoothens a closely following moving average into a polynomial like plot.
And assumes 4 stage cycles based on the first and second derivatives.
Green: Bull / Exponential Rise
Yellow: Distribution
Red: Bear / Exponential Drop
Blue: Accumulation
Red --> Blue --> Green: indicates the start of a bull market
Green --> Yellow --> Red: indicates the start of a bear market
Green --> Yellow: Start of a distribution phase, take profits
Red --> Blue: Start of a accumulation phase, DCA
It smoothens a closely following moving average into a polynomial like plot.
And assumes 4 stage cycles based on the first and second derivatives.
Green: Bull / Exponential Rise
Yellow: Distribution
Red: Bear / Exponential Drop
Blue: Accumulation
Red --> Blue --> Green: indicates the start of a bull market
Green --> Yellow --> Red: indicates the start of a bear market
Green --> Yellow: Start of a distribution phase, take profits
Red --> Blue: Start of a accumulation phase, DCA
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 publications is governed by House rules. You can favorite it to use it on a chart.
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