OPEN-SOURCE SCRIPT

Trend Setter Max Bars

3 102
This script allows you to visualize trends. It counts continuous bars in the same direction, then makes an average of the maximum count in the look back period. If Green is above Red, its strength is upward and vice versa. This doesn't use returns or measure price moves.

*Positive Gray is current up bars count. Negative Gray down current down bars count
*Green and Red are average max counts.

This info could possibly be used to gauge trends or momentum.

Note: I finally figured out how to use loops and mutable variables in V3.

면책사항

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