ScalpiusTrend

Crypto trader and trading system developer Scott Phillips recently introduced a crypto trading system that specifies a set of rules for determining whether the crypto is in a trend. While the rules are not overly complex, they are complex enough that manual trend determination is somewhat laborious and prone to error. The ScalpiusTrend script is designed to automate this process. It operates is briefly summarized as follows:
1. It looks for a bar that breaks the Bollinger Band. That starts a pending trend.
2. When we find another bar with a higher high and higher close (uptrend) or lower low and lower close (downtrend), then the trend is confirmed.
3. The trend ends when the price touches the opposite Bollinger Band, or goes 20 bars without making a new low and new close.

The indicator is shown as a histogram plot below the main chart window. By default, the short black pending trend bars are off, but you can enable the Pending Bars checkbox in the indicator Settings menu to turn them on.

Note di rilascio:

Fixed slight bug that improperly handled pending candle count. It only occasionally made a small difference but it is important to adhere as lose as possible to the trend rules.

Note di rilascio:

Updated the code to (by default) allow trends in one direction to immediately switch to pending in the other direction when the price touches the opposite BB.
This should be closer in spirit to what Scott Phillips intends with his Scalpius system.