"Trend Indicator A-V2" and "Trend Indicator B-V2" are updated and improved versions of my initial trend indicators. Totally rethinking the code, adding highs and lows in the calculations, including some more customisation through colour schemes.
In practice, this indicator uses EMAs and Heikin Ashi to provide an overall idea of the trend.
The "Trend Indicator A-V2" is an overlay showing “Smoothed Heikin Ashi”.
The "Trend Indicator B-V2" uses the same values in a different way to measure the momentum of the trend and identify potential trend rejections.
Please, take into account that it is a lagging indicator.
Note di rilascio
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Adding resolution customisation
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-Added "MA Type" customisation possibility -Replaced the "colour schemes" feature by a "base color inputs" feature (user friendly, easy to customise) -Switched the title names to English for a better understanding -Minor script optimisation
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-changed ma_period defval to 7 -changed ma_period defval_smoothing to 7
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-Updated the code to PineScript version 5 -Major script refresh (script optimised using functions + aesthetic touches) -Removed excessive smoothing via moving average for less lag (there was previously two smoothing phases, now there is only one) -Added ALMA, HMA and ZLEMA to the "MA Type" input string. You can now chose between :
'ALMA' (Arnaud Legoux Moving Average)
'EMA' (Exponential Moving Average)
'HMA' (Hull Moving Average)
'SMA' (Simple Moving Average)
'SWMA' (Symmetrically-Weighted Moving Average)
'VWMA' (Volume-Weighted Moving Average)
'WMA' (Weighted Moving Average)
'ZLEMA' (Zero Lag Exponential Moving Average)
-Custom settings has been added for those who'd like to use ALMA.
Shift range from 1 to 0. A shift of 1 will make the indicator follow the price exactly while something closer to 0 introduces more lag. Default value is set to 0.85
Deviation represents the filter’s range. The lower the value, the less reactive to price changes it will be. Default value is set to 6
-Default MA period has been changed to 9 to get less false signals. -Default ME type set to 'EMA' because most commonly used.
hello Dziwne , we are all grateful to you for building your amazing indicators , i am using the a v2.2 indicator for scalp trading , i am in full hesitation between the 5 and the 15 min , which timeframe do you best recommend for scalping? , I also use the 3-1 ,5-1 ,7-1, 7-3 ema combinations and get mixed results , what do you think is the best ema combination for scalping ?
thank you very much for all your efforts and wish you great trading success greeting from Guatemala
Alex007Brazil
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Hello, I would like to know if the script update is done automatically, as I already have it in my chart.
DZIV
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@Alex007Brazil, Yes, it normally does, but you can manually change the script version to an older version if you wish to by going in the script tab.
unique_amir
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hey man, thank u for your great indicator .does it repaint ?
DZIV
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@unique_amir, Hey, thank you! Yes, it does. It uses "request.security()" which can track unconfirmed values on realtime bars, which can lead to repainting ( ͡° ͜ʖ ͡°)_/¯
jimmyfalcon2409
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Best setting to use this indicator
DZIV
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@jimmyfalcon2409, Hi, there is no "best settings" for this indicator, you should tweak them depending on your use case. Still, the default parameters are good to start of
avengine
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I like your script, look great, how can I set the alert when the trend is change? thanks.
WyattClifton
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@avengine, @Dziwne I have the same question, is there a way in a screener to determine what stocks are changing trend, from red to green? Thanks for any help
thank you very much for all your efforts and wish you great trading success
greeting from Guatemala