The indicator paints the bar colours based on the average open and average close for past N days. if average close is above average open, the bars are coloured green, otherwise they are coloured red
It can be used as a general trend filter on weekly, daily bars. even on intraday timeframes, this would work well and give a sense of the current trend direction.
Note di rilascio
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Added the Moving Average Plots and an additional arrow whenever there is a trend change.