trends in charting. It is calculated by taking an 'n' period
moving average of the difference between the open and closing prices. A
value greater than zero means that the majority of the last 'n' days
have been up, indicating that buying pressure has been increasing.
Transaction signals come from when the indicator crosses through the
zero line. Crossing above zero is used as the entry signal because it is indicating
that buying pressure is increasing, while sell signals come from the indicator
crossing down through zero. In addition, an 'n' period moving average of the
values can be drawn to act as a signal line. Transaction signals are then generated
when the value crosses through the trigger line.
You can change long to short in the Input Settings
- For purpose educate only
- This script to change bars colors.
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 a publication is governed by House Rules. You can favorite it to use it on a chart.
USDT (TRC20): TH29EEXa19vfwZNYvxdUuMxoFY5QDYLcWG