here is my first script.
This is the normal 14 period ,
but with a color twist, to make it extremely easy on eyes.
easily spot the strength.
, as you know, shows the strength of the trend.
As short term traders, we need price movement and a strong trend.
How to use this script ?
1. We don't trade when is in the red zone (0-20)
2. We get ready for trading when it enters the blue zone (20-30)
3. We trade when the enters the green zone (>30)
Simple, right !
Now, in the green zone,
in which direction you should trade?
Here are a few links, to help you use as a strategy ,
Other than this, you can combine this with your own strategies.
Personally, I like to use it on stocks on 1H timeframe.
Would love to hear from you.
Please like it to support the project,
and help spread it.
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.