OPEN-SOURCE SCRIPT

Tenkan Higher Time Frame by TheSocialCryptoClub

Name: Tenkan HTF

Category: Indicator.

Timeframe: Any Timeframe

Description: Tenkan Higher Timeframe allows to visualise the Tenkan for the Current timeframe and one at a higher timeframe.

Suggested usage: Use on Daily to evaluate the Weekly Tenkan.

Technical Details: When the Tenkan changes direction, it is evaluated if the change is due to the creation of new highs or new lows - so what happened in the last candle, a symptom of strength or weakness - or if the change is due to the fact that the "outgoing" candle had lows or highs that were no longer present in the Tenkan period.

This indicator can also be used - by setting the appropriate period length - for the Kijun.

Credits:
- Technique has been explained by Corrado Rondelli.

오픈 소스 스크립트

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

For quick access on a chart, add this script to your favorites — learn more here.