OPEN-SOURCE SCRIPT
Trend-Filtered Blue Diamond
To make sure the Blue Diamond only appears during a confirmed uptrend and stays hidden during a downtrend, we need to add a "Trend Filter."
The best way to do this is by using a long-term Moving Average (like the 200 EMA). This ensures that even if you get a small bullish crossover, the diamond won't show up unless the overall market direction is positive.
The best way to do this is by using a long-term Moving Average (like the 200 EMA). This ensures that even if you get a small bullish crossover, the diamond won't show up unless the overall market direction is positive.
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