Trend ChameleonThe Trend Chameleon, originally developed by Alex Cole for the Bloomberg Terminal, is a powerful tool designed to simplify trend identification and illuminate potential trading opportunities. It leverages a clear visual display to decode market movements, making it useful for traders of all experience levels.
🟠 Overview
Here's an illustration of how the indicator performs for ES (S&P 500 E-mini Future) on the daily chart:
Trend Chameleon employs a color-coded candle scheme, with each color corresponding to a specific level of trend strength. Purple candles represent the strongest bearish trends, while teal candles signal the most potent bullish momentum. Between these extremes lie red, yellow, and green candles, providing a spectrum of trend direction. This intuitive color coding allows you to quickly grasp the prevailing market sentiment and identify potential entry and exit points for your trades.
🟠 Algorithm
Under the hood, Trend Chameleon evaluates four conditions to provide a directional strength score:
1. Whether the MACD value is positive.
2. Whether the SMA 50 of open prices is above the SMA 50 of the close prices.
3. Whether the ROC indicator value is positive.
4. Whether the current close price is above the SMA 50.
The total number of fulfilled conditions (0 to 4) determines the trend strength, with 0 indicating the most bearish and 4 signifying the strongest bullish trend. This score is then visually represented by coloring the bars on the chart.
🟠 Note
If you don't see the bars being properly colored after adding this indicator, please ensure Trend Chameleon is positioned on top of all other indicators in your chart. This can be easily achieved by hovering over the indicator's name, clicking the three dots, selecting "Visual Order," and then choosing "Bring to front."
Cerca negli script per "trend"
Trend Catcher Strategywhat is Trend Catcher Strategy?
it is a strategy that opens long or short positions in the direction of the trend.
what it does?
TCS detects trend formations using its own unique method. Then, it opens a position in the direction of the trend and closes a part of the opened transaction (half according to default values) when the price reaches a certain level, and moves the remaining position to the point where it thinks the trend is over. You can easily understand how it works by looking at the images:
how it does it?
It obtains a value called a "limit" by dividing the difference between the highest value and the lowest value in a certain range (that is, the vector sum) to the sum of the lengths of the candles in a certain range (the total distance traveled). then multiplies this by 100 to get a percentage value. The closer this value is to 100, the stronger the trend.
Trend Analysis with Standard Deviation by zdmre This script analyzes trends in financial markets using standard deviation.
The script works by first calculating the standard deviation of a security's price over a specified period of time. The script then uses this standard deviation to identify potential trend reversals.
For example, if the standard deviation of a security's price is high, this could indicate that the security is overvalued and due for a correction. Conversely, if the standard deviation of a security's price is low, this could indicate that the security is undervalued and due for a rally.
The script can be used to analyze any security, including stocks, bonds, and currencies. It can also be used to analyze different time frames, such as daily, weekly, and monthly.
How to Use the Script
To use the script, you will need to specify the following parameters:
Time frame: The time frame you want to analyze.
Standard deviation: The standard deviation you want to use.
Once you have specified these parameters, the script will calculate the standard deviation of the security's price over the specified time frame. The script will then use this standard deviation to identify potential trend reversals.
#DYOR
Manual Trend Line Breakout Labels and Alerts (TA:MTL)Manual Trend Line Breakout Labels and Alerts (TA:MTL)
TA:MTL is an indicator designed for manually plotting trend lines with advanced features including future extension, automatic breakout labels, and alerts. Developed for traders and analysts seeking precise trend determination and timely response to trend changes.
Key Features
Manual Trend Point Selection: Set two time points to define the start and end of the main trend line.
Adaptive Extension: The trend line automatically extends into the future, aiding in the anticipation of potential trend direction.
Strict Breakout Conditions: The indicator monitors strict breakout conditions where the price must cross the trend line post-bar closure, providing more reliable signals.
Visual Labels and Alerts: Visual labels appear upon detecting a breakout, accompanied by alerts for immediate user notification.
Customizable Appearance: Choose colors for primary and extended lines, as well as for breakout labels.
Usage Instructions
Set two time points (Trend time point 1 and Trend time point 2) to determine the initial and final points of the trend line.
Select the position type (Position Type) - "Long" for an upward trend or "Short" for a downward trend.
Customize the appearance of lines and labels using the available color parameters.
Activate the display of the future line extension (Show Future Line) if needed.
Monitor automatic labels and alerts to identify breakout moments of trend lines.
Volatility Trend Bands [Orderflowing]Volatility Trend Bands | Moving Averages | Adaptive Bands | Volatility | Smoothing (+)
Built using Pine Script V5.
Introduction
The Volatility Trend Bands indicator is a trading tool designed for trend analysis and market volatility visualization.
It integrates multiple moving average types, offering traders a customizable trend visual.
Inspiration and Originality
The Volatility Trend Bands indicator is inspired by the need for a comprehensive trend/volatility tool that can work with differing market conditions and trading styles.
Its use of multiple moving average types and more customizable settings sets it apart from other traditional technical analysis tools.
Core Features
Multiple Moving Average Types: Offers EMA, DEMA, T3, Laguerre, ZLEMA, TEMA, or HULL types for the calculation.
Band Width: Allows for the adjustment of band width, used to align it with different analytical styles and volatility levels.
Optional Smoothing: Implements smoothing techniques for a clearer view of the Trend Band, reducing market noise and take significant movements into account.
Calculations: Includes options like Laguerre Gamma and Volume Factor for T3, allowing depth for the Laguerre & T3 options.
Input Parameters
Lookback Period: Adjust the number of past data points considered, affecting sensitivity to market changes.
Moving Average Type: Select from the available options to determine the band's calculation method.
Band Width Multiplier: Modify the width of the bands to visualize market extremes and volatility more effectively.
Smoothing Techniques: Choose to apply smoothing for a trend visualization.
Calculation Settings: Fine-tune settings like Laguerre Gamma and Volume Factor.
Example of Disabled Smoothing (EMA type):
Example of Enabled Smoothing (EMA type):
Example of T3 Calculation:
Example of Multi-Timeframe (1D Calculation / 4H Chart):
Usage and Applications
Instrument Trend Analysis: The plotted trend can be used to analyze trends and potential reversal points, helping with strategic decision-making.
Volatility: Offers visual of market volatility, and furthermore in the identification of potential breakout points.
Risk Management: Utilize the bands for setting strategic stop-loss or take-profit levels, based on nuanced market movement analysis.
The Value
The Volatility Trend Bands indicator is a custom tool, offering advanced features and customization options that justify its value.
Conclusion
The Volatility Trend Bands indicator is a useful tool for market analysis, offering a mix of advanced calculation methods and customization options.
It adapts to market conditions and trader preferences, providing a flexible approach to trend analysis.
The Volatility Trend Bands indicator is to be used for confluence with other trading strategies and market analysis methods.
Only relying on this indicator for trading decisions is not advised.
Trend Shift ProThe indicator is designed to identify shifts or changes in trends as blocks, the indicator's focus on analyzing the Median of Means, Interquartile Range, and Practical Significance for potential trend changes in the market using non parametric Cohen's D. The script is designed to operate on blocks of 21 bars. The key parts of the script related to this are the conditions inside the "if" statements: The bar_index % 21 == 0 condition checks if the current bar index is divisible by 21, meaning it's the beginning of a new block of 21 bars. This condition is used to reset and calculate new values at the start of each block.
Therefore, signals or calculations related to the median of means (MoM), interquartile range (IQR), and Cohen's D are updated and calculated once every 21 bars. What this means is the frequency of signals is shown once every 21 bars.
Price Movements of Blocks:
Block-Based Analysis: This approach divides the price data into blocks or segments, often a fixed number of bars or candles. Each block represents a specific interval of time or price action. It involves No Smoothing: Unlike moving averages, block-based analysis does not apply any smoothing to the price data within each block. It directly examines the raw prices within each block.
Let's break down the key concepts and how they are used for trading:
Median of Means (MoM):
The script calculates the median of the means of seven subgroups, each consisting of three bars in shuffled order.
Each subgroup's mean is calculated based on the typical price (hlc3) of the bars within that subgroup.
The median is then computed from these seven means, representing a central tendency measure.
Note: The Median of Means provides a robust measure of central tendency, especially in situations where the dataset may have outliers or exhibit non-normal distribution characteristics. By calculating means within smaller subgroups, the method is less sensitive to extreme values that might unduly influence the overall average. This can make the Median of Means more robust than a simple mean or median when dealing with datasets that have heterogeneity or skewed distributions.
Interquartile Range (IQR):
The script calculates the IQR for each block of 21 bars.
The IQR is a measure of statistical dispersion, representing the range between the first quartile (Q1) and the third quartile (Q3) of the data.
Q1 and Q3 are calculated from the sorted array of closing prices of the 21 bars.
Non-Parametric Cohen's D Calculation:
Cohen's D is a measure of effect size, indicating the standardized difference between two means.
In this script, a non-parametric version of Cohen's D is calculated, comparing the MoM values of the current block with the MoM values of the previous block.
The calculation involves the MoM difference divided by the square root of the average squared IQR values.
Practical Significance Threshold:
The user can set a threshold for practical significance using the Threshold input.
The script determines practical significance by comparing the calculated Cohen's D with this threshold.
Plotting:
The script plots the MoM values using both straight lines and circles, with the color of the circles indicating the direction of the MoM change (green for upward, red for downward, and blue for no change).
Triangular shapes are plotted when the absolute value of Cohen's D is less than the practical significance threshold.
Overall Purpose for Trading:
The indicator is designed to help traders identify potential turning points or shifts in market sentiment. and use it as levels which needs to be crossed to have a new trend.
Changes in MoM, especially when accompanied by practical significance as determined by Cohen's D, may signal the start of a new trend or a significant move in the market.
Traders using this indicator would typically look for instances where the MoM values and associated practical significance suggest a high probability of a trend change, providing them with potential entry or exit signals. It's important for users to backtest and validate the indicator's effectiveness in different market conditions before relying on it for trading decisions.
2 Moving Averages | Trend FollowingThe trading system is a trend-following strategy based on two moving averages (MA) and Parabolic SAR (PSAR) indicators.
How it works:
The strategy uses two moving averages: a fast MA and a slow MA.
It checks for a bullish trend when the fast MA is above the slow MA and the current price is above the fast MA.
It checks for a bearish trend when the fast MA is below the slow MA and the current price is below the fast MA.
The Parabolic SAR (PSAR) indicator is used for additional trend confirmation.
Long and short positions can be turned on or off based on user input.
The strategy incorporates risk management with stop-loss orders based on the Average True Range (ATR).
Users can filter the backtest date range and display various indicators.
The strategy is designed to work with the date range filter, risk management, and user-defined positions.
Features:
Trend-following strategy.
Two customizable moving averages.
Parabolic SAR for trend confirmation.
User-defined risk management with stop-loss based on ATR.
Backtest date range filter.
Flexibility to enable or disable long and short positions.
This trading system provides a comprehensive approach to trend-following and risk management, making it suitable for traders looking to capture trends with controlled risk.
Machine Learning: Trend Lines [YinYangAlgorithms]Trend lines have always been a key indicator that may help predict many different types of price movements. They have been well known to create different types of formations such as: Pennants, Channels, Flags and Wedges. The type of formation they create is based on how the formation was created and the angle it was created. For instance, if there was a strong price increase and then there is a Wedge where both end points meet, this is considered a Bull Pennant. The formations Trend Lines create may be powerful tools that can help predict current Support and Resistance and also Future Momentum changes. However, not all Trend Lines will create formations, and alone they may stand as strong Support and Resistance locations on the Vertical.
The purpose of this Indicator is to apply Machine Learning logic to a Traditional Trend Line Calculation, and therefore allowing a new approach to a modern indicator of high usage. The results of such are quite interesting and goes to show the impacts a simple KNN Machine Learning model can have on Traditional Indicators.
Tutorial:
There are a few different settings within this Indicator. Many will greatly impact the results and if any are changed, lots will need ‘Fine Tuning’. So let's discuss the main toggles that have great effects and what they do before discussing the lengths. Currently in this example above we have the Indicator at its Default Settings. In this example, you can see how the Trend Lines act as key Support and Resistance locations. Due note, Support and Resistance are a relative term, as is their color. What starts off as Support or Resistance may change when the price crosses over / under them.
In the example above we have zoomed in and circled locations that exhibited markers of Support and Resistance along the Trend Lines. These Trend Lines are all created using the Default Settings. As you can see from the example above; just because it is a Green Upwards Trend Line, doesn’t mean it’s a Support Line. Support and Resistance is always shifting on Trend Lines based on the prices location relative to them.
We won’t go through all the Formations Trend Lines make, but the example above, we can see the Trend Lines formed a Downward Channel. Channels are when there are two parallel downwards Trend Lines that are at a relatively similar angle. This means that they won’t ever meet. What may happen when the price is within these channels, is it may bounce between the upper and lower bounds. These Channels may drive the price upwards or downwards, depending on if it is in an Upwards or Downwards Channel.
If you refer to the example above, you’ll notice that the Trend Lines are formed like traditional Trend Lines. They don’t stem from current Highs and Lows but rather Machine Learning Highs and Lows. More often than not, the Machine Learning approach to Trend Lines cause their start point and angle to be quite different than a Traditional Trend Line. Due to this, it may help predict Support and Resistance locations at are more uncommon and therefore can be quite useful.
In the example above we have turned off the toggle in Settings ‘Use Exponential Data Average’. This Settings uses a custom Exponential Data Average of the KNN rather than simply averaging the KNN. By Default it is enabled, but as you can see when it is disabled it may create some pretty strong lasting Trend Lines. This is why we advise you ZOOM OUT AS FAR AS YOU CAN. Trend Lines are only displayed when you’ve zoomed out far enough that their Start Point is visible.
As you can see in this example above, there were 3 major Upward Trend Lines created in 2020 that have had a major impact on Support and Resistance Locations within the last year. Lets zoom in and get a closer look.
We have zoomed in for this example above, and circled some of the major Support and Resistance locations that these Upward Trend Lines may have had a major impact on.
Please note, these Machine Learning Trend Lines aren’t a ‘One Size Fits All’ kind of thing. They are completely customizable within the Settings, so that you can get a tailored experience based on what Pair and Time Frame you are trading on.
When any values are changed within the Settings, you’ll likely need to ‘Fine Tune’ the rest of the settings until your desired result is met. By default the modifiable lengths within the Settings are:
Machine Learning Length: 50
KNN Length:5
Fast ML Data Length: 5
Slow ML Data Length: 30
For example, let's toggle ‘Use Exponential Data Averages’ back on and change ‘Fast ML Data Length’ from 5 to 20 and ‘Slow ML Data Length’ from 30 to 50.
As you can in the example above, all of the lines have changed. Although there are still some strong Support Locations created by the Upwards Trend Lines.
We will conclude our Tutorial here. Hopefully you’ve learned how to use Machine Learning Trend Lines and will be able to now see some more unorthodox Support and Resistance locations on the Vertical.
Settings:
Use Machine Learning Sources: If disabled Traditional Trend line sources (High and Low) will be used rather than Rational Quadratics.
Use KNN Distance Sorting: You can disable this if you wish to not have the Machine Learning Data sorted using KNN. If disabled trend line logic will be Traditional.
Use Exponential Data Average: This Settings uses a custom Exponential Data Average of the KNN rather than simply averaging the KNN.
Machine Learning Length: How strong is our Machine Learning Memory? Please note, when this value is too high the data is almost 'too' much and can lead to poor results.
K-Nearest Neighbour (KNN) Length: How many K-Nearest Neighbours are allowed with our Distance Clustering? Please note, too high or too low may lead to poor results.
Fast ML Data Length: Fast and Slow speed needs to be adjusted properly to see results. 3/5/7 all seem to work well for Fast.
Slow ML Data Length: Fast and Slow speed needs to be adjusted properly to see results. 20 - 50 all seem to work well for Slow.
If you have any questions, comments, ideas or concerns please don't hesitate to contact us.
HAPPY TRADING!
Market TrendMarket Trend by Trading Ninjaa
Description:
The "Market Trend" indicator is designed to provide traders with a clear visual representation of the prevailing market direction. By utilizing a higher timeframe moving average, this tool offers insights into the broader market trend. The indicator identifies:
Uptrends: When the price is above the higher timeframe moving average, the background is shaded green.
Downtrends: When the price is below the higher timeframe moving average, the background is shaded red.
Sideways Markets: Recognized by decreased volatility, these periods are shaded in gray.
Usage:
Green Background: Indicates bullish market conditions. Traders might consider long entries or avoiding short trades.
Red Background: Suggests bearish market conditions. Might be used as a signal to consider short entries or avoid long positions.
Gray Background: Highlights potential sideways or consolidating market conditions. Traders might exercise caution, considering range-bound strategies.
Tips:
This indicator is best used in conjunction with other technical tools for confirmation. Always backtest any new strategy involving this indicator before considering it for live trading.
Trend Change DetectorThe trend change detector oscillator is a tool designed to help traders identify the current trend direction paired with the potential reversal zones.
The oscillator is made of multiple parts:
- The colored histogram, that displays the current long-term trend direction (long if above 0, short if below)
- The trend line, which shows the price in relation to the fair value of the current trend
- The reversal zones, which are the area that alarms the traders that the price might reverse soon after having touched them
The indicator can work with three different inputs. In the Source panel, you can choose between "Price", "Price and Volume" and "Ponderated Volume". The price input uses only the price, the price and volume use the average between the price and the ponderated volume, and the ponderated volume shows the indicator working with volume data, with formulas such as the On Balance Volume and the Accumulation-Distribution line.
This indicator can be used both for trend following technique, using the cross of the trend line with the 0-line as signals in conjunction with the bias given by the histogram, and for mean reversal technique thanks to the reversal zones that allow traders to identify potential tops and bottoms.
Trend Analyser by Abdul KhaderThis indicator is designed to provide buy and sell signals based on a combination of technical analysis methods. It uses the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and Exponential Moving Averages (EMA) to generate signals. It also calculates Stop Loss (SL) and Take Profit (TP) levels based on the Average True Range (ATR).
Components:
RSI: An oscillator that measures the speed and change of price movements. RSI is used to identify overbought and oversold conditions. In this indicator, an RSI below 30 is considered oversold and an RSI above 70 is considered overbought.
MACD: A trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. The MACD triggers technical signals when it crosses above (to buy) or below (to sell) its signal line.
EMA: These moving averages give more weight to recent prices and are used to identify short-term price trends. A crossover of a shorter period EMA (9 periods in this case) above a longer period EMA (21 periods in this case) generates a buy signal. Conversely, a crossover of the shorter EMA below the longer EMA generates a sell signal.
ATR: This is a market volatility indicator. The ATR is used to calculate Stop Loss and Take Profit levels. These levels are set at a distance from the entry price, equal to a certain multiplier (1.5 in this case) of the ATR.
How to Use:
Buy Signal: A green triangle below the price bar indicates a buy signal. This is generated when the following conditions are met:
The short-term EMA crosses above the long-term EMA
The RSI is below 30 (oversold condition)
The MACD line crosses above the signal line and is above zero
Sell Signal: A red triangle above the price bar indicates a sell signal. This is generated when the following conditions are met:
The short-term EMA crosses below the long-term EMA
The RSI is above 70 (overbought condition)
The MACD line crosses below the signal line and is below zero
Stop Loss and Take Profit: These levels are indicated by dashed lines. The stop loss for a long position is set below the entry price, while the take profit is set above. For a short position, the stop loss is set above the entry price and the take profit is set below.
Important Notes:
This indicator is designed for intraday trading and may not be suitable for longer-term trades.
Always use this indicator in conjunction with other aspects of technical and fundamental analysis. No indicator can provide accurate signals 100% of the time.
Always backtest this indicator with historical data before using it in live trading.
Risk management is crucial in trading. Never risk more than a small percentage of your trading capital on a single trade.
Trend FollowingMoving Average Period:** This is the period of the moving average that will be used to identify the trend. A good starting point is 10 days.
* **Candlestick Patterns:** The candlestick patterns that will be used to identify potential reversals in the trend. Some of the most common candlestick patterns include the bullish engulfing pattern, the bearish engulfing pattern, the hammer pattern, and the inverted hammer pattern.
* **Support and Resistance Levels:** The support and resistance levels that will be used to manage risk. These levels can be identified using a variety of technical indicators, such as the moving average, the Bollinger bands, and the Fibonacci retracement levels.
Here is how the strategy will work:
1. The moving average will be used to identify the trend. When the price is above the moving average, it is considered to be in an uptrend. When the price is below the moving average, it is considered to be in a downtrend.
2. Candlestick patterns will be used to identify potential reversals in the trend. If a bullish candlestick pattern appears in an uptrend, it could be a sign that the trend is about to continue. If a bearish candlestick pattern appears in a downtrend, it could be a sign that the trend is about to reverse.
Trend Channels With Liquidity Breaks [ChartPrime]Trend Channels
This simple trading indicator is designed to quickly identify and visualize support and resistance channels in any market. The primary purpose of the Trend Channels with Liquidity Breaks indicator is to recognize and visualize the dominant trend in a more intuitive and user-friendly manner.
Main Features
Automatically identifies and plots channels based on pivot highs and lows
Option to extend the channel lines
Display breaks of the channels where liquidity is deemed high
Inclusion of volume data within the channel bands (optional)
Market-friendly and customizable colors and settings for easy visual identification
Settings
Length: Adjust the length and lookback of the channels
Show Last Channel: Only shows the last channel
Volume BG: Shade the zones according to the volume detected
How to Interpret
Trend Channels with Liquidity Breaks indicator uses a combination of pivot highs and pivot lows to create support and resistance zones, helping traders to identify potential breakouts, reversals or continuations of a trend.
These support and resistance zones are visualized as upper and lower channel lines, with a dashed center line representing the midpoint of the channel. The indicator also allows you to see the volume data within the channel bands if you choose to enable this functionality. High volume zones can potentially signal strong buying or selling pressure, which may lead to potential breakouts or trend confirmations.
To make the channels more market-friendly and visually appealing, Trend Channels indicator also offers customizable colors for upper and lower lines, as well as the possibility to extend the line lengths for further analysis.
The indicator displays breaks of key levels in the market with higher volume.
TASC 2023.07 Keeping With The Larger Trend█ OVERVIEW
TASC's July 2023 edition of Traders' Tips features an article by Barbara Star titled "Stay On Track With The Supertrend Indicator". The article explores how the supertrend indicator , whether used as a standalone tool or in conjunction with other indicators, can assist traders in aligning with the larger trend. Drawing inspiration from the article, this script enhances the supertrend indicator with additional visual and analytical features, making it easier to analyze the readings and make informed trading decisions.
█ CONCEPTS
Over the past few years, the supertrend indicator has gained significant popularity among traders. Unlike moving averages, it incorporates both price and volatility information, enabling traders to navigate upward or downward trends despite occasional price disruptions.
When using the supertrend indicator, a trader may consider entering a long position when the price surpasses the supertrend line or retraces to it after the initial crossover. Similarly, for short positions, a trader could enter when the price drops below the supertrend line or retests it. Exiting these positions can be triggered by the opposite scenario, such as a price drop below the supertrend line for long positions or a price rise above the supertrend line for short positions. To assist in monitoring the distance between the price and the indicator line, this script introduces the following display features:
Breach levels, representing fractions of the most recent maximum distance.
On-chart signals indicating crossings of the highest and lowest breach levels.
An infobox displaying the average value of the maximum distance.
█ CALCULATIONS
For calculating the supertrend line, this script uses the built-in function ta.supertrend() . Additionally, the script showcases the use of state-of-the-art PineScript® functionality, including methods and tables .
Trend Reversal Indicator (Bull/Bear)Simple indicator utilising time series momentum to identify secular/cyclical trends in asset classes. Default setting is weekly timeframe - yearly/quarterly. The indicator helps define when in bull/bear market, and corrections/rebounds within larger trends.
TrendLine I3-TLIdea:
Draw a trendline that can set an alert every time the price cross over/under.
Concept:
(Note that we take the close to get the closing price).
-Determine the coordinates of 2 points of the line AB: A(x1;y1); B(x2;y2).
-Apply Oxy geometry to the chart with price as Oy axis, time as Ox axis. Use linear equations to determine:
+If point's x > line's x, the point is to the right of the line.
+If point's x < line's x, the point is to the left of the line.
+If point's x == line's x, the point is on the line.
-Determine when the price is crossOver or crossUnder the trend line, display that time on the chart and send an alert.
How it works:
1. Input value to config the line by manually:
- Y1: Price 1 as point 1.
- X1: Time at point 1.
- Y2: Price 2 as point 2.
- X2: Time at point 2.
X2 (To date) must be after X1 (From date).
Please consider time (hour, minute) if timeframe < 1hour.
Then draw a line on the pouring table with straight line AB as solid line, extended line as broken line. Logic will start from dashed line (To date in input).
If the price changes value from side to side of the line, show the text label, change the background color accordingly (blue top, red bottom),
also sends an alert ("CrossUnder"; "CrossOver").
2. The indicator's operating range is limited to 500 bars from the "From date" bar. When reaching to the outside, it will show a yellow warning with outbound message.
3. Set alert for this indicator, it will send alert follow 1. condition.
Suitable time frames:
5m, 15m, 1h, 4h, 1D
* Please note that this logic does not attempt to predict future prices or 100% accurate signal.
This is FREE indicator.
(Please direct message or visit website if you want to try another invite-only indicators)
Hope you guys enjoy!
Examples:
GOLD 1D
EURUSD 1H
