OPEN-SOURCE SCRIPT
Draw Trend Lines
Sometimes the simplest indicators help traders make better decisions. This indicator draws simple trend lines, the same lines you would draw manually.
To trade with an edge, traders need to interpret the recent price action, whether it's noisy or choppy, or it's trending. Trend Lines will help traders with that interpretation.
The lines drawn are:
1. lower tops
2. higher bottoms
Because trends are defined as higher lows, or lower highs.
When you see "Wedges", formed by prices chopping between top and bottom trend lines, that's noisy environment not to be traded. When you learn to "stop yourself", you already have an edge.
Often when you see a trend, it's still not too late. Trend will continue until it doesn't. But the caveat is a very steep trend is unlikely to continue, because buying volume is extremely unbalanced to cause the steep trend, and that volume will run out of energy. (Same on the sell side of course)
Trends can reverse, and when price action breaks the trend line, Breakout/Breakdown traders can take this as an entry signal.
Enjoy, and good trading!
To trade with an edge, traders need to interpret the recent price action, whether it's noisy or choppy, or it's trending. Trend Lines will help traders with that interpretation.
The lines drawn are:
1. lower tops
2. higher bottoms
Because trends are defined as higher lows, or lower highs.
When you see "Wedges", formed by prices chopping between top and bottom trend lines, that's noisy environment not to be traded. When you learn to "stop yourself", you already have an edge.
Often when you see a trend, it's still not too late. Trend will continue until it doesn't. But the caveat is a very steep trend is unlikely to continue, because buying volume is extremely unbalanced to cause the steep trend, and that volume will run out of energy. (Same on the sell side of course)
Trends can reverse, and when price action breaks the trend line, Breakout/Breakdown traders can take this as an entry signal.
Enjoy, and good trading!
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.