GMS: The Gummy Worm

This will help to identify trends within markets on any time frame. It's based on moving averages thus you can select the moving average which you want to use and obviously it's length as well. The gummy worm will get a little fatter during times of higher volatility which helps avoid false signals.

The blue indicates an uptrend and pink indicates a downtrend. The dots you see mark the bar of which the trend flips. The trend flips the close of the bar. The indicator repaints on every tick so you will see it change colors when it is close to changing trend. Price needs to close above the upper part of the channel to flip up (blue) and conversely it needs to close below the lower part to flip down (pink).

I hope this helps!

Andre

Notas de Lançamento:

The Super Gummy Worm!

- There are now price labels for the closing price of the bar that changes the color.

- For fans of bar charts, there is a bar color option, its automatically enabled so just disable it in the style settings if you don't want it.

- Remember to change the resolution to "same as symbol" the default is now Daily.

- There is a skinny worm selection as well. This just helps with identifying potential trend continuation points.

Notas de Lançamento:

Another quick update:

- removed the word "Close: " from the labels since it ended up looking a little cluttered.
- expanded the offset range from -2 to 2.

Next Update:

- Picking your own label colors.

Notas de Lançamento:

Added in the Hull Moving Average.