PROTECTED SOURCE SCRIPT
SIM Trend Strength Oscillator
Trend Strength Oscillator
The UNIQUE Trend Strength Oscillator is a non-overlayed indicator designed to help traders identify the strength and direction of market trends. This indicator uses Average True Range (ATR) bands to determine trend conditions and provides a visual representation of trend strength through a smoothed oscillator line.
Add the indicator to favorites for easy access
Key Features:
ATR Bands: Utilizes ATR bands to define trend conditions, with options to use either EMA or SMA for smoothing.
Trend Conditions: Identifies moderate and strong uptrends and downtrends, as well as sideways movements.
Trend Strength Calculation: Assigns normalized trend strength values based on the identified trend conditions.
Smoothing: Smoothes the trend strength values over a specified number of confirmation candles to provide a clearer trend signal.
Visualization: Displays the trend strength as a colored oscillator line and background, making it easy to interpret trend strength and direction at a glance.
Inputs:
Use EMA for ATR: Toggle to use EMA instead of SMA for ATR bands.
ATR Period: Period for ATR calculation.
ATR Mean Length: Length for the SMA of ATR.
Trend Confirmation Candles: Number of candles for trend confirmation.
Usage:
Trend Identification: Use the oscillator to identify the strength and direction of the current trend.
Trend Confirmation: Ensure that the trend condition has been true for the specified number of confirmation candles for more reliable signals.
Visual Cues: The colored oscillator line and background provide quick visual cues for trend strength and direction.
The Trend Strength Oscillator is a valuable tool for traders looking to gain insights into market trends and make more informed trading decisions.
Buy me a Coffee (ETH): 0x34539E9D183B427DC14376158C8Fa9f619B03eEa
The UNIQUE Trend Strength Oscillator is a non-overlayed indicator designed to help traders identify the strength and direction of market trends. This indicator uses Average True Range (ATR) bands to determine trend conditions and provides a visual representation of trend strength through a smoothed oscillator line.
Add the indicator to favorites for easy access
Key Features:
ATR Bands: Utilizes ATR bands to define trend conditions, with options to use either EMA or SMA for smoothing.
Trend Conditions: Identifies moderate and strong uptrends and downtrends, as well as sideways movements.
Trend Strength Calculation: Assigns normalized trend strength values based on the identified trend conditions.
Smoothing: Smoothes the trend strength values over a specified number of confirmation candles to provide a clearer trend signal.
Visualization: Displays the trend strength as a colored oscillator line and background, making it easy to interpret trend strength and direction at a glance.
Inputs:
Use EMA for ATR: Toggle to use EMA instead of SMA for ATR bands.
ATR Period: Period for ATR calculation.
ATR Mean Length: Length for the SMA of ATR.
Trend Confirmation Candles: Number of candles for trend confirmation.
Usage:
Trend Identification: Use the oscillator to identify the strength and direction of the current trend.
Trend Confirmation: Ensure that the trend condition has been true for the specified number of confirmation candles for more reliable signals.
Visual Cues: The colored oscillator line and background provide quick visual cues for trend strength and direction.
The Trend Strength Oscillator is a valuable tool for traders looking to gain insights into market trends and make more informed trading decisions.
Buy me a Coffee (ETH): 0x34539E9D183B427DC14376158C8Fa9f619B03eEa
Skrip terproteksi
Skrip ini dipublikasikan secara closed-source dan anda dapat menggunakannya dengan bebas. Anda dapat memfavoritkannya untuk digunakan pada grafik. Anda tidak dapat melihat atau mengubah kode sumbernya.
Inggin menggunakan skrip ini pada chart?
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.