Yet another trend follower that is based on a very simple principle: Take the highest high and lowest low from a user defined bars back period, do an average between them and smooth them up with 3 possible moving averages, VIDYA, EMA and SMA, while VIDYA is the default.
What is VIDYA ?
Variable Index Dynamic Average (VIDYA) is similar to the Exponential Moving Average (EMA), but automatically adjusts the smoothing weight based on price volatility.
How to use:
GREEN : Up trending
LIGHT GREEN : Up trend reversal might occur.
RED : Down trending
LIGHT RED : Down trend reversal might occur.
NOTE: BAR COLORS are set to TRUE by default!
Follow for more indicators: www.tradingview.com/u/dman103/
What is VIDYA ?
Variable Index Dynamic Average (VIDYA) is similar to the Exponential Moving Average (EMA), but automatically adjusts the smoothing weight based on price volatility.
How to use:
GREEN : Up trending
LIGHT GREEN : Up trend reversal might occur.
RED : Down trending
LIGHT RED : Down trend reversal might occur.
NOTE: BAR COLORS are set to TRUE by default!
Follow for more indicators: www.tradingview.com/u/dman103/
Appreciation of my work: paypal.me/dman103
Premium Pivot Points Algo Indicator: www.tradingview.com/script/LFBaHNuA-Pivot-Points-Algo/
LIVE Stream - Pivot Points Algo: www.youtube.com/channel/UCFyqab-i0xb2jf-c18ufH0A/live
Premium Pivot Points Algo Indicator: www.tradingview.com/script/LFBaHNuA-Pivot-Points-Algo/
LIVE Stream - Pivot Points Algo: www.youtube.com/channel/UCFyqab-i0xb2jf-c18ufH0A/live