Based on Smooth First Derivative Indicator by tbiktag Volatility also from another public TV script, forgot which one though, sorry if this is yours and I haven't credited your work, let me know if it is and I'll reference it properly.
About this indicator:
Estimates whether market is trending up, down or sideways by adding the slope (first derivatives) of a fast & slow MA. Uptrend = Green, Downtrend = Red, Sideways = Yellow
Uses a minimum slope percentile to determine threshold for uptrend, downtrend & sideways. Definitely adjust this when changing timeframes, for BTCUSD at 1 hour timeframe a value of 25 is decent Also has a measure of Volatility if you're into that
Explanation of inputs: Bandwidth - for derivative function Fastma - period for fast Moving Average Slowma - period for slow Moving Average Derivmalength - smooths out the signal, reducing single contrasting bars, but delays the signal. Use 1 if don't want to use V length - ema of volatility if you want to smooth it Min Slope Percentile - slope should exceed this percentile to be classified as uptrend (green) or downtrend (red) anything in this bottom percentile will be considered sideways Mine Slope Lookback Period - # of bars back to calculate Slope Percentile
Versionshinweise
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Fixed Min Slope Percentile error, now properly goes from 1 - 100
Versionshinweise
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Added option to use Squeeze Momentum based derivative to determine trend (less laggy but maybe requires a lot more tweaking to properly identify ranging zones). By default it's still MA-based derivatives.