Trend Quality

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The quality of the current trend is calculated by adding or subtracting
one point to the total value depending on the following criteras:

1. EMA-8, MA-20, MA-50, MA-100, MA-200 , each get a point if they are increasing.
2. EMA-8 > MA-20 > MA-20 > MA-50 > MA-100 > MA-200 , each condition that is true gets one point.

On top of the Trend Quality value we apply a "weekly" (5 periods) and
a "monthly" (22 periods) moving average.

When above a value of 5, a strong trend is indicated and hence
a trend following strategy should be used.

Use this to Buy when bouncing back from e.g MA-20 or a confirming
consolidation/ candlestick / trendline pattern.

When the trend decreases below Zero a trend shift may have occured.

Idea, curtesy: Tobbe Rosèn
Notas de Lançamento: Adding the following rules based on Mark Minervini:

3. The current stock price is at least 30 percent above its 52-week low, gets one point
4. The current stock price is within at least 25 percent of its 52-week high, gets one point.
5. The 200-day moving average line is trending up for at least 2.5 "months", gets one point.
6. Close > MA-50 , gets one point

The trigger value has thus been moved to 9 for when a strong Trend Quality is in action.
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I really like the concept but when I added to chart its showing at the bottom and it's not showing as showing in above screenshot. Please help me do I need to do any changes?
I added to many stocks and tried but no luck
kruskakli Shravan69
@Shravan69, Hm...I don't understand. You say the Trend Quality indicator is shown at the bottom. But that is how it should be.
nice script... added to favorite :)
Awesome, job and great script. Do we have a sell example?
@Kuch, Thanks! No I don't have a sell example.
My impression is that a Bearish context can/should not be handled as just an inverted Bullish situation.
But of course, I'm not an expert (yet... ;-)
This publication will be featured in our "Best Scripts of The Month" selection. Thank you for your valuable contribution to the TradingView community, and congrats!
kruskakli PineCoders
@PineCoders, Wow, thank you, I'm honoured :-)
yosmer333 PineCoders
@PineCoders, where can i see that selection list? thank you
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