OPEN-SOURCE SCRIPT
Radius Trend [ChartPrime]
RADIUS TREND
⯁ OVERVIEW
The Radius Trend [ChartPrime] indicator is an innovative technical analysis tool designed to visualize market trends using a dynamic, radius-based approach. By incorporating adaptive bands that adjust based on price action and volatility, this indicator provides traders with a unique perspective on trend direction, strength, and potential reversal points.
The Radius Trend concept involves creating a dynamic trend line that adjusts its angle and position based on market movements, similar to a radius sweeping across a chart. This approach allows for a more fluid and adaptive trend analysis compared to traditional linear trend lines.
◆ KEY FEATURES
◆ USAGE
⯁ USER INPUTS
The Radius Trend indicator offers traders a unique and dynamic approach to trend analysis. By combining radius-based trend adjustments with volatility-sensitive calculations, it provides a fluid representation of market trends. This indicator is particularly useful for traders looking to identify trend persistence, potential reversal points, and adaptive support/resistance levels across various market conditions and timeframes.
⯁ OVERVIEW
The Radius Trend [ChartPrime] indicator is an innovative technical analysis tool designed to visualize market trends using a dynamic, radius-based approach. By incorporating adaptive bands that adjust based on price action and volatility, this indicator provides traders with a unique perspective on trend direction, strength, and potential reversal points.
The Radius Trend concept involves creating a dynamic trend line that adjusts its angle and position based on market movements, similar to a radius sweeping across a chart. This approach allows for a more fluid and adaptive trend analysis compared to traditional linear trend lines.
◆ KEY FEATURES
- Dynamic Trend Band: Calculates and plots a main trend band that adapts to market conditions.
- Radius-Based Adjustment: Uses a step-based radius approach to adjust the trend band angle.
- Volatility-Adjusted Calculations: Incorporates price range volatility for more accurate band placement.
- Trend Direction Visualization: Provides clear color-coding to distinguish between uptrends and downtrends.
- Flexible Parameters: Allows users to adjust the radius step and initial distance for customized analysis.
◆ USAGE
- Trend Identification: Use the color and direction of the main band to determine the current market trend.
- Trend Strength Analysis: Observe the angle and consistency of the band for insights into trend strength.
- Reversal Detection: Watch for price crossing the main band or crossing a dashed band as a potential trend reversal signal.
- Volatility Assessment: The distance between price and bands can provide insights into market volatility.
⯁ USER INPUTS
- Radius Step: Controls the rate of angle adjustment for the trend band (default: 0.15, step: 0.001).
- Start Points Distance: Sets the initial distance multiplier for band calculations (default: 2, step: 0.1).
The Radius Trend indicator offers traders a unique and dynamic approach to trend analysis. By combining radius-based trend adjustments with volatility-sensitive calculations, it provides a fluid representation of market trends. This indicator is particularly useful for traders looking to identify trend persistence, potential reversal points, and adaptive support/resistance levels across various market conditions and timeframes.
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