OPEN-SOURCE SCRIPT
Trend Setter Max Bars
This script allows you to visualize trends. It counts continuous bars in the same direction, then makes an average of the maximum count in the look back period. If Green is above Red, its strength is upward and vice versa. This doesn't use returns or measure price moves.
*Positive Gray is current up bars count. Negative Gray down current down bars count
*Green and Red are average max counts.
This info could possibly be used to gauge trends or momentum.
Note: I finally figured out how to use loops and mutable variables in V3.
*Positive Gray is current up bars count. Negative Gray down current down bars count
*Green and Red are average max counts.
This info could possibly be used to gauge trends or momentum.
Note: I finally figured out how to use loops and mutable variables in V3.
Script de código abierto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Exención de responsabilidad
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Script de código abierto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Exención de responsabilidad
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.