This indicator seeks for a short term trend within a bigger long term trend and displays both in a channel with an extension lines (optional).
Use of this indicator is quite simple: when the stock is near the trend line bottom (default RED) it can be a good time to buy and when the stock is near the trend line top (default GREEN) it can be a good time to sell.
What new ideas and cool stuff this indicator offers: - 'Trend (Months)' - Trend channels will always be displayed over the period: last 'X' months (regardless of the 'Time Interval' set in your chart) This allows you to go into a larger or smaller resolution and still see the same trend lines! - 'Trend (Bars)' - Optional. You can choose to display the Trend channel based on bars instead of months. This can be useful for advanced traders, or in case a security is new and there isn't even 1 month of data. - 'Show long-term trend' - Optional. Displays a larger 3rd (even more long-term) trend in addition to the two current trends. This is for advanced traders who want to see an even more bigger picture. It is best viewed on a weekly time interval. - Customizable channel size, channel colors and channel style. - 'Extend lines' - Optional (default: yes). Trend channels' can be displayed with extension or without using this option. - Internal Feature - When trend channel goes below zero (can happen if stock's price falls sharply) - its below-zero portion will be drawn as 'extension' instead. This is useful if such occurs, and we're in an auto-scaled chart - the lines will take less space on screen (for cleaner view).
Based on an idea/indicator by @ DevLucem called "Linear Regression ++"
No verdadeiro espírito do TradingView, o autor desse script o publicou como código aberto, para que os traders possam compreendê-lo e analisá-lo. Parabéns ao autor! Você pode usá-lo gratuitamente, mas a reutilização desse código em publicações é regida pelas Regras da Casa. Você pode favoritá-lo para usá-lo em um gráfico.
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