OPEN-SOURCE SCRIPT
Candle Close Trend
First of all, a huge credit to Wade for all the help with this indicator. An absolute Legend!
The idea behind this indicator is to identify a potential trend with simply the close of candles.
If a candle closes above the previous candle High, the trend would be "bullish" and remain bullish until there is a candle that closes below the previous candle Low. The opposite is true for a "bearish" trend.
As always, this is NOT intended to be used by itself, but with other TA.
For cleanest results, I find it best to use with the candle borders turned off in the chart settings but that is just my preference.
Works on all timeframes.
https://www.tradingview.com/x/AIt73Ofu/
The idea behind this indicator is to identify a potential trend with simply the close of candles.
If a candle closes above the previous candle High, the trend would be "bullish" and remain bullish until there is a candle that closes below the previous candle Low. The opposite is true for a "bearish" trend.
As always, this is NOT intended to be used by itself, but with other TA.
For cleanest results, I find it best to use with the candle borders turned off in the chart settings but that is just my preference.
Works on all timeframes.
https://www.tradingview.com/x/AIt73Ofu/
Script de código abierto
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