This script tries to identify trending regions and ranging choppy regions. Green areas are trends; Red areas are consolidation areas. If you are a trend follower trader you should focus on green areas; If you are a harmonic pattern trader you should focus on red areas. I did not play with the parameters extensively, but as a rule of thumb higher parameters helps on long term trades. This tool seems to work better for major currencies pairs, presumably due to the high exchanged volumes that reduces weird fluctuations. Good set of parameters are: (55, 9) the default ones, doing impressively well in EURUSD Daily; (8, 5) doing well in GBPCHF Daily, short trades to be set at lower timeframes.
Happy trading, vitelot/yanez/Vts January 2019
Hitting the like button is a free sign of gratitude.
This is an excellent indicator !! Where did you hide yourself mate ? You are genius
AngelRock
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Can't believe I've never seen this before, works great for scalping on the 1M time frame. Only critique I have for this is being able to change colors for pre-market and after hours sessions but honestly this is what I've been looking for for a long time. Great Job and Thank You.
Excellent! This works incredibly well with renko charting!
JMTradingMaster
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Strangely enough I believed green areas are choppy areas, because I use a range market strategy, and I am biased towards range as good to go. It did make me avoid many breakout loses which are the worse con of this type of strategy; to avoid sharp trend starts.