Consensio Hystogram

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Using the ideas from "Consensio" system, by Tyler Jenks, this Indicator shows a Buy and sell values, with 3 levels
using the position order of 3 smas: short, medium and large

There are 3 combinations indicating buy and 3 indicating sell:

Example: LSM (Long SMA Top, Then Short, Then Medium)

3 levels each. More level more power signal for buy or sell

MLS = Sell Level 1
LSM = Sell Level 2
LMS = Sell Level 3
SLM = Buy Level 1
SML = Buy Level 3
MSL = Buy Level 2

The triangles on top of the indicator shows any cross of the 3 SMAs and the level of buy/sell signal of the combination

The hystogram shows a composed value, using the distance of each SMA to the close price of each bar and te result is
multiplied by the actual combination order of the SMAs , positive values for Buy, negative for shell, using values from 1 to 3

The longer the SMA period, more weight has in the result value.

(These factors are editables)

My defaults:
50% using Long SMA
35% Using Medium SMA
15% Using Short SMA

Let me know if you encounter this as useful as me.

Script de código abierto

Siguiendo el verdadero espíritu de TradingView, el autor de este script lo ha publicado en código abierto, para que los traders puedan entenderlo y verificarlo. ¡Un hurra por el autor! Puede utilizarlo de forma gratuita, aunque si vuelve a utilizar este código en una publicación, debe cumplir con las Normas internas. Puede marcarlo como favorito para usarlo en un gráfico.

¿Quiere utilizar este script en un gráfico?


wow amazing indicator .. if you switch this to weekly .. you'll find 2 april 2018 this indicator turned level 3 however market reversed that week and indicator signaled from 3 back to level 2 on 23 april 2018.. so my conclusion is that this indicator and consensio in general behave like a sinewave and it do that incrementally ....meaning it goes from short term trend to intermediate and finally long term