OPEN-SOURCE SCRIPT
Atualizado Trading Range Finder
What is it?
This indicator is a visual representation of the ADX indicator that shows where the areas of weak trends are. Anything shaded in a gray background implicates that the chosen market is experiencing a weak trend.
These areas of weak trends are seen typically when ADX drops below 20-25 but this script is customizable to change where you want that threshold.
Why did I make it?
I made this indicator to be used in combination with other trading indicators to eventually be used to identify when a market is range-bound/sideways.
Since momentum-based indicators can be "thrown off" in sideways market conditions, I will be using this visual indicator to identify when it is best to filter out a trade signal in a momentum-based strategy.
This indicator is a visual representation of the ADX indicator that shows where the areas of weak trends are. Anything shaded in a gray background implicates that the chosen market is experiencing a weak trend.
These areas of weak trends are seen typically when ADX drops below 20-25 but this script is customizable to change where you want that threshold.
Why did I make it?
I made this indicator to be used in combination with other trading indicators to eventually be used to identify when a market is range-bound/sideways.
Since momentum-based indicators can be "thrown off" in sideways market conditions, I will be using this visual indicator to identify when it is best to filter out a trade signal in a momentum-based strategy.
Notas de Lançamento
- Added the option to color the candlesticks so you don't have to look back and forth between the indicator and the chart
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.