TRI Indicator

TRI Indicator Description for TradingView
Overview:
The TRI (Trend Reversal Indicator) is a simple yet effective trend-following indicator designed to highlight potential trend reversals in the market. It dynamically changes the color of candles to visually indicate the start of an uptrend or downtrend, helping traders identify potential trade opportunities.

How It Works:
Uptrend Detection:

An uptrend is confirmed when the current closing price is above the previous high.
The high and low of the current candle must also be higher than the previous candle.
When this condition is met for the first time, the candle turns blue to indicate the beginning of an uptrend.
Downtrend Detection:

A downtrend is confirmed when the current closing price is below the previous low.
The high and low of the current candle must also be lower than the previous candle.
When this condition is met for the first time, the candle turns orange to indicate the beginning of a downtrend.
Candle Coloring Logic:

The first candle that meets the uptrend condition is colored blue.
The first candle that meets the downtrend condition is colored orange.
Subsequent candles remain unchanged until a new trend starts.
Key Features:
✅ Trend Reversal Detection: Helps traders spot potential shifts in market direction.
✅ Clear Visual Representation: Blue candles for new uptrends and orange candles for new downtrends.
✅ No Repainting: The indicator applies logic to ensure stable signals without repainting historical data.
✅ User-Friendly: No complicated inputs—works out of the box for traders of all levels.

How to Use:
Use the indicator on any timeframe (works best on higher timeframes for trend confirmation).
Combine with other indicators (like RSI, MACD, or volume analysis) for better trade decisions.
Apply it to different assets, including stocks, forex, and crypto markets.