With the info "Trend is Your Friend", you should not take position against the trend. This script checks multipte moving averages if they are above/below the closing price and try to find trend. The moving averages with the length 8, 13, 21, 34, 55, 89, 144, 233, 377 used. these are fibonacci numbers, but optionally you can change the lengths of each moving averages. while it's green you better take long positions, while it's red you better take short positions according to other indcators or tools.
Optionally you have "smoothing" option to get rid of whipsaws. it's enabled by default.
You have option to use following moving average types: EMA, SMA, RMA, WMA, VWMA. by default it's EMA
Also the script has "Resolution" option. with this option you can get the trend for other time frames, in following example 1h was set as for higher time frame on 15m chart:
This should not be used as buy/sell signal indicators as it's tries to find trend but not entry points, you should use other indicators (such RSI, Momentum) or other tools to find buy/sell signals.
Just a suggestion but if you can update for input from other indicators instead of just close, it would be even more cool -swiss type tool for trend monitoring
Loved the work!! :)
fyersgautam
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How to backtest
LonesomeTheBlue
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@fyersgautam, as I wrote in the explanation part, you should combine this with other tools such RSI, Momentum etc or other tools you like.
jarodpretender
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GREAT WORK..
jarodpretender
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Thank you! really awesome
aldrinjeth
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Thank you! Will definitely test this as a trend filter. As always, great work! :)
LonesomeTheBlue
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@aldrinjeth, please share the test results and recomendations ;)
UnknownUnicorn1726778
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This will be helpful for anything we do. Easier to spot. Thanks
Yashin99
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Many thanks, God bless...
visibleLeopard82205
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Why does this work so well like seriously I can't believe it doesnt repaint ;D
Loved the work!! :)