OPEN-SOURCE SCRIPT
Trend Oscillator
I would like to present the Trend Oscillator to your attention.
It works on the principle of difference (distance) between sma and price. When the price is high above the SMA, it means a strong trend and the distance between the SMA and the price is quite large.
The same when the down trend, but sma is above the price. This difference or distance was used in the indicator and normalized to the range of 1 and -1 by normalized function, thus resulting in a Trend Oscillator.
How to read indicator:
https://www.tradingview.com/x/saIXSwCa/
When Oscillator is above zero line it is an UpTrend and back ground change color like Oscillator by itself, the same for down trend. Big gaps between up trend and down trend background colors can be indentify like a ranging market without big changes in price.
Because it was designed for 1D time frame and back tested on it, I recommend use it only on 1D.
It has been backtested on different BTС exchanges and the result is the same as the screenshot below, so feel free to use it on any BTC exchange what you wish.
Also you can personalize it to your taste
https://www.tradingview.com/x/G3yRlcUE/
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这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。