INVITE-ONLY SCRIPT
Rosebud Trend [DepthHouse]
Updated
Rosebud Trend Indicator uses complex range calculations to easily detect trend changes, critical support and resistance levels, and even aid in spotting reversals. The Critical Support & Resistance Zones are plotted via the red and green cloud. This cloud not only visually displays the expected trend direction but often acts as major support and resistance zones. The outer band measures the expected range in which the assets trades within over longer periods of time.
Users can switch the ‘Trend Sensitivity’ between ‘Low’ and ‘High’ to increase or decrease the rate at which the cloud changes.
By altering the S/R Band Thickness users can furthermore increase or decrease the rate at which a trend changes by altering the thickness of the cloud. I prefer to keep these settings at 0.55 , 0.382, or 0.236.
The bar colors are generated by a combination of Rosebuds primary function and our ATR AUTO Oscillator base functions. Users have 3 bar color options to select from: Simple, Complex, and Off.
Sample of Complex Bar Colors:
Bull, Bear signals along with Up and Down arrows are too based on a combination of our trend direction and ATR Auto Oscillator calculations.
Users have the option to adjust both bar color, and shape generation settings via:
*Smoothed Signal Option: Turns advance smoothing on or off. On will reduce signal noise, while Off could land you that perfect bottom signal with a lower success rate.
*Candlestick Length: Default factor for bar color and shape generation, higher the number the fewer signals that will generate.
Candlestick Smoothing: Default smoothing for the Candlestick Length
*Signal Lookback: Adjust the factor at which Bull, Bear, Up, and Down. Lower this to 2 for more signals.
*Cross Thresholds: The lower this number the easier it is for ‘Bull’, ‘Bear’, and over extended signals to generate; see image below:
*Users also have the option to hide all signal visuals via the 'Shapes' On/Off option.
Users have multiple built in Alerts to choose from:
*Bullish Trend Change: When the critical cloud switches to Bullish
*Bearish Trend Change: When the critical cloud switches to Bearish
*Upper Range Break: When the price action closes above the Range Top
*Lower Range Break: When the price action closes below the Range Bottom
*Light Bullish Cross: Early bullish signal; also displayed by up arrows by default
*Light Bearish Cross: Early bear signal: also displayed by down arrows by default
*Verified Bullish Cross: Occurs when a Bull signal is generated.
*Verified Bearish Cross: Occurs when a Bear signal is generated.
*Past performance is no guarantee of future results*
Users can switch the ‘Trend Sensitivity’ between ‘Low’ and ‘High’ to increase or decrease the rate at which the cloud changes.
By altering the S/R Band Thickness users can furthermore increase or decrease the rate at which a trend changes by altering the thickness of the cloud. I prefer to keep these settings at 0.55 , 0.382, or 0.236.
The bar colors are generated by a combination of Rosebuds primary function and our ATR AUTO Oscillator base functions. Users have 3 bar color options to select from: Simple, Complex, and Off.
- Simple: Bars colors alternate between shades of red and green based on the trend direction and the ATR Auto strength. Stronger the shade, the stronger the trend.
- Complex: This adds a few extra variables to the script which generates a more complex bar color display. Using this option, Rosebud will generate light red bars in a bull trend if downward movement is strong and vice versa in a bear trend. It also will generate a purple bar if the candle successfully closes above or below the Top & Bottom Range Bands; We call this a range break, and it could be an early sign of strong upward or downward movement.
- Off: In case you like to keep things even simpler, this option hides all overlay bar colors.
Sample of Complex Bar Colors:
Bull, Bear signals along with Up and Down arrows are too based on a combination of our trend direction and ATR Auto Oscillator calculations.
Users have the option to adjust both bar color, and shape generation settings via:
*Smoothed Signal Option: Turns advance smoothing on or off. On will reduce signal noise, while Off could land you that perfect bottom signal with a lower success rate.
*Candlestick Length: Default factor for bar color and shape generation, higher the number the fewer signals that will generate.
Candlestick Smoothing: Default smoothing for the Candlestick Length
*Signal Lookback: Adjust the factor at which Bull, Bear, Up, and Down. Lower this to 2 for more signals.
*Cross Thresholds: The lower this number the easier it is for ‘Bull’, ‘Bear’, and over extended signals to generate; see image below:
*Users also have the option to hide all signal visuals via the 'Shapes' On/Off option.
Users have multiple built in Alerts to choose from:
*Bullish Trend Change: When the critical cloud switches to Bullish
*Bearish Trend Change: When the critical cloud switches to Bearish
*Upper Range Break: When the price action closes above the Range Top
*Lower Range Break: When the price action closes below the Range Bottom
*Light Bullish Cross: Early bullish signal; also displayed by up arrows by default
*Light Bearish Cross: Early bear signal: also displayed by down arrows by default
*Verified Bullish Cross: Occurs when a Bull signal is generated.
*Verified Bearish Cross: Occurs when a Bear signal is generated.
*Past performance is no guarantee of future results*
Release Notes
Change Log:- Added a Medium option to the Trend Sensitivity
- Breakout Lookback is now an integer input for more flexibility
- Carried over the Breakout Threshold option from the ATR AUTO Oscillator for optional noise reduction
- Cross Thresholds in now a raw float input to match the output values of the ATR Auto Oscillator
- Reorganized the Setting Inputs in effort to improve accessibility
Release Notes
Change Log:- Added the Auto [Beta] feature option to automatically determine the S/R Band Thickness
- Improved consistency between the Rosebud Trend and Rosebud Trend Backtest
Invite-only script
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Author's instructions
″Free Trials & Subscription options are available on my website: https://depthhouse.com/
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Creator of DepthHouse Indicators on TradingView!
↣ depthhouse.com/
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