Trading Range Finder

jamiedubauskas 已更新   
What is it?

This indicator is a visual representation of the ADX indicator that shows where the areas of weak trends are. Anything shaded in a gray background implicates that the chosen market is experiencing a weak trend.
These areas of weak trends are seen typically when ADX drops below 20-25 but this script is customizable to change where you want that threshold.

Why did I make it?

I made this indicator to be used in combination with other trading indicators to eventually be used to identify when a market is range-bound/sideways.
Since momentum-based indicators can be "thrown off" in sideways market conditions, I will be using this visual indicator to identify when it is best to filter out a trade signal in a momentum-based strategy.
  • Added the option to color the candlesticks so you don't have to look back and forth between the indicator and the chart


本着真正的TradingView精神,该脚本的作者将其开源发布,以便交易者可以理解和验证它。为作者喝彩!您可以免费使用它,但在出版物中重复使用此代码受网站规则的约束。 您可以收藏它以在图表上使用。