OPEN-SOURCE SCRIPT
Price movement indicator
Updated
This indicator shows us if the price is moving up or down based on the ratio of current price vs previous bar.
If this ratio is above 1 then this indicates that the price is increasing, while if the ratio is below 1 the price is decreasing.
HOW TO USE:
Set the desired EMA length, number of previous bars to compare with and offset.
Markets:
It can be used to all markets.
If this ratio is above 1 then this indicates that the price is increasing, while if the ratio is below 1 the price is decreasing.
HOW TO USE:
Set the desired EMA length, number of previous bars to compare with and offset.
Markets:
It can be used to all markets.
Release Notes
- [* Potential LONG and SHORt entries (green and red circles)]
[* Signal line (blue)]
Release Notes
- Potential SHORT and LONG entriesSHORT = red circle
LONG = green circle
- Signal line (blue)
Release Notes
Removed unnecessary plots and variables.Release Notes
HMA added to bring more smoothness
Release Notes
HMA Offset addedRelease Notes
Entry points are clear now.Green - LONG
Red - SHORT
Release Notes
Added SMA length for pricecomparison n-bars backEMA set to 100
Offset set to 25
Release Notes
Minor bug fixedRelease Notes
Chart error fixedOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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