informanerd

Up/Down Trend Marker

A simple indicator of trend by using 3 EMAs of multiplies of 2, 5 and 10, filtered by standard positive/negative directional movements ( DM ) which are the base of Average Directional Index ( ADX ).
The "Trend Strength" option is included to set the EMA multipliers and also the variation between DM+ and DM- which interpret the trend as a weak or a strong one.
Note that the markers only point to almost the beginning of the trends and just change the direction when the opposite trend is detected.
Feel free to send me your opinions.
Versionshinweise: Added another filter based on Renko Chart idea with brick size calculated from ATR (Average True Range)
Open-source Skript

Ganz im Sinne von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es verstehen und überprüfen können. Ein Hoch auf den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Publikation unterliegt den Hausregeln. Sie können das Skript den Favoriten hinzufügen, um es auf dem Chart zu verwenden.

Möchten Sie dieses Skript auf einem Chart verwenden?

Kommentare

this is a good inidcator for swing trading
+1 Antworten
informanerd blackcat1402
@blackcat1402, I'm glad you could use it.
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Does this indicator repaint?
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informanerd TheMessiah
@TheMessiah, As long as you use it with default settings, it will repaint like every indicator which is applied to the current bar close price. Fortunately you could change the source in the options of the indicator from "Close" to "Open" to overcome the problem. Of course you could do this on any indicator out there which has the option!
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Hello how do you set up an alert for this, Thank you :)
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informanerd Sandra323
@Sandra323, Hey. You could do that by adding some lines to the code as below:

alertcondition(up, title = "Up", message = "Up")
alertcondition(down, title = "Down", message = "Down")

and then add your alerts.
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