OPEN-SOURCE SCRIPT
Updated Market Meanness Index
This tool plots the expected condition of the market: either "Trending" or "Sideways"
When the white plot is in the Blue region, the market is considered "Trending"
In the Yellow region, the market is considered "Sideways" or mean reverting.
When the white plot is in the Blue region, the market is considered "Trending"
In the Yellow region, the market is considered "Sideways" or mean reverting.
Release Notes
- Graphical Changes
- Choose between two data sources - Price itself or the Change in Price
Release Notes
Tweaked default color schemeRelease Notes
- Complete graphical change to more clearly indicate "Trending" vs "Sideways"
- Ability to enable/disable fills
- Tweaked some code
Open-source script
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.
For quick access on a chart, add this script to your favorites — learn more here.
Algo Trading Simplified 👉 PaxProfits.com
Discover the easy way to manage Forex trading accounts. Trusted by traders globally.
Discover the easy way to manage Forex trading accounts. Trusted by traders globally.
Disclaimer
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.
Open-source script
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.
For quick access on a chart, add this script to your favorites — learn more here.
Algo Trading Simplified 👉 PaxProfits.com
Discover the easy way to manage Forex trading accounts. Trusted by traders globally.
Discover the easy way to manage Forex trading accounts. Trusted by traders globally.
Disclaimer
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.