How to use:
This indicator can be used to give you a direction bias, with the added function to create ranges which often lead to reversals or flat trading periods. Trade the break-out or wait for pull backs in the direction of the trend.
I'm not great at explaining stuff and will probably make things only more complicated, so I won't bother for now,
but if you have a question on how the script works I will gladly give it a try.
The option "Flexible Trends" will disable the min/max function (trailing or non trailing).
Flexible Trends enabled:
Flexible Trends disabled:
Settings are not optimized for any asset or time frame, you will have to do that for yourself. Feel free to share them in the comments.
Thanks for showing interest, enjoy and good luck! :)
- New alerts
- New moving average options
- New extend line function
up := close > (showRange ? downRange : downTrend) ? 1 : close < upTrend ? -1 : up
Many of my scripts need some fine-tuning when I get back into Pinecoding, as some of it is not the most efficient code or the best example for new coders. Thanks for the comment, I appreciate it a lot! :)