Dustin_D_RLT

Recent Trend Indicator

Recent Trend Indicator
Versionshinweise: Recent Trend Indicator

The Recent Trend Indicator is a colorful way to easily identify the recent trend with a Red Light/Green Light look. With the default settings, the trend is identified in the following way:

Green = Up Trend = Last Bar is at least 15% greater than the bar six months ago
Yellow = Sideways Up Trend = Last Bar is greater than the bar six months ago but not more than 15% greater
Orange = Sideways Down Trend = Last Bar is less than the bar six months ago but not more than 15% less
Red = Down Trend = Last Bar is at least 15% less than the bar six months ago

All values are editable with the following default settings:

Trend Timeframe = 1 Week
# of Bars for Trend = 26 (6 months)
Trend Growth % = 15%

With the default settings, this indicator is best viewed on the Daily chart but you can easily edit the settings to work well intraday as well on a 5m or 15m chart with settings something like this:

Trend Timeframe = 1 Day
# of Bars for Trend = 5, 7, 10, 14 or 30 for example
Trend Growth % = 2% or 3%

*** NOTE: This is NOT a standalone system and should only be used with other indicators or strategies to determine a good entry point.

Version 1.1: Added the above notes to explain the indicator and added a step value to the Trend Growth % to allow for .25% increments instead of whole numbers
Versionshinweise: Version 1.2: Removed the resolution="" from the study line to avoid confusion using the timeframe settings
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?

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Recent Trend Indicator
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