[Jett.][GoldenRush] Market Direction

2021년 1월 8일

This script was created to analyze levels of market trends.

This is an indicator that is used to analyze the overall 2 levels.
1.Considering the index's key trends (Strategic Level)
2.Trend Analysis (Tactical Level)

To get a big overview of the trend and catch short-term movements. In this indicator, there are 4 levels of momentum measurements.
with the default setting
Major trends (Strategic Level)
1.We have the highest and lowest prices in the 52-week or 1-year scale.
2.We use the average of the highest and lowest prices(basis of 52-week). can be filtering the overview of the trend
3.As for the trend in 24-week or 6-month. Used to find the direction of the price And helps confirm that a trend is starting to take a certain direction.
Sub-level trend (Tactical Level)
1.Price in the level 12-week or 3-month. We use it to calculate the direction of movement in the short term, it is possible that the market will be bullish or bearish in 3-month.
2.And the 12-week or 3-month price is a confirmation of how strongly the short-term price moves in any direction.
3.If there will be a correction of the price base 12 weeks or 3-month price swings always happen first.
4.The 1-month price is the same as the trigger, if the market has a breakout in any way it could mean the start of a short sway.

By this indicator Besides being used to measure direction or trend, it can also be used as a significant filter for both support and resistance for short, medium, long term.

Jet.T.S. Trader