After reading Cam Hui's blog post about his "Trifecta" bottom spotting model I thought I'd try my hand at scripting it as an indicator. The results are pretty close to what he describes. Though the data TradingView feeds me doesn't seem to be identical to what he's using on StockCharts.com the results are close enough that I will call the effort a success worth publishing.
A very noisy indicator to detect bottoms and new uptrends.
Original idea by ChartArt.
First published indicator - constructive criticism welcome.
(The indicator is experimental and doesn't work most of the time.)
I would describe it as an "coincident indicator". The signals occur at approximately the same time as the conditions it signifies. Rather than...