OPEN-SOURCE SCRIPT

Custom Trend Indicator with Reversal Arrows

已更新

The Custom Trend Indicator with Reversal Arrows is a user-friendly script designed to help traders identify trends and trend reversals on the TradingView platform. This indicator analyzes price action and generates trend lines based on user-defined rules for uptrends, downtrends, and no-trend conditions. Additionally, it highlights trend reversal points with arrows for easy identification.

Features:

Customizable Line Offset Multiplier: Allows users to set the distance between the trend line and the candlesticks. This makes the trend lines more visually discernible.

Trend Identification:

Uptrend: The indicator plots a green line when the current high, low, and close are greater than the previous high, low, and close, respectively.
Downtrend: The indicator plots a red line when the current high, low, and close are less than the previous high, low, and close, respectively.
No Trend: The indicator plots a black line when neither an uptrend nor a downtrend is identified.
Trend Reversal Arrows: The script displays green arrows pointing upwards for bullish trend reversals and red arrows pointing downwards for bearish trend reversals.
To use this indicator, simply copy and paste the provided Pine Script into the Pine editor on TradingView, and add the indicator to your chart. This powerful and customizable tool will enhance your ability to identify trends and capitalize on trend reversals in your trading strategy.

Please note that this indicator is intended for educational purposes only and should not be considered as financial advice. Always perform your own due diligence and consult with a financial professional before making any trading decisions.

版本注释

The Custom Trend Indicator with Reversal Arrows is a user-friendly script designed to help traders identify trends and trend reversals on the TradingView platform. This indicator analyzes price action and generates trend lines based on user-defined rules for uptrends, downtrends, and no trend conditions. Additionally, it highlights trend reversal points with arrows for easy identification.

Features:

Customizable Line Offset Multiplier: Allows users to set the distance between the trend line and the candlesticks. This makes the trend lines more visually discernible.

Trend Identification:

Uptrend: The indicator plots a green line when the current high, low, and close are greater than the previous high, low, and close, respectively.
Downtrend: The indicator plots a red line when the current high, low, and close are less than the previous high, low, and close, respectively.
No Trend: The indicator plots a black line when neither an uptrend nor a downtrend is identified.
Trend Reversal Arrows: The script displays green arrows pointing upwards for bullish trend reversals and red arrows pointing downwards for bearish trend reversals.
To use this indicator, simply copy and paste the provided Pine Script into the Pine editor on TradingView, and add the indicator to your chart. This powerful and customizable tool will enhance your ability to identify trends and capitalize on trend reversals in your trading strategy.

Please note that this indicator is intended for educational purposes only and should not be considered as financial advice. Always perform your own due diligence and consult with a financial professional before making any trading decisions.

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Hiding the Line By Default.

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Added EMA 5 & EMA 13 Lines for confirmation

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Changed ema5 & ema13 to ema8 & ema20 for better calcuation

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Added Auto Fib Levels - updating regularly

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FIB Level Updation

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Pivot Points Added

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Fixed a lot of error that were coming in enabling or disabling the options.

If you are from India & trade actively & also wants to learn different technical things, I ran a WhatsApp group - You can join that from here - chat.whatsapp.com/E2gt1Sd1ijPL1dAfn4TqWj

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Mutilple Fixes Today

If you are from India & trade actively & also wants to learn different technical things, I ran a WhatsApp group - You can join that from here - chat.whatsapp.com/E2...gt1Sd1ijPL1dAfn4TqWj

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Updated Notification on Reversal Arrow -

Kindly note - Enable the notification only once per candle to avoid the multiple notification for a candle as candle is forming, it shows reversal arrow sign..

Don't forget to join our whatsApp group for continues learning - chat.whatsapp.com/E2gt1Sd1ijPL1dAfn4TqWj

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Added the alert for EMA Crossover, Pivot Points, Fib Retracements also.....

Perfectly working for me on option charts also...

Test before you deploy it live..

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For Making Chart looks more clear, we are hiding Pivot points when time frame will be changed to daily or higher level as Pivot points are calculated just for intraday purposes ....showing these on higher time frame is just making chart looks ugly..

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By default - EMA Lines & Pivot Lines are being hidden now to make chart looks more attractive.

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Due to some personal reasons, I am removing this script from public & making it to invite-only...

If you are interested in learning & want to use the script - we welcome you to our private whatsapp group.

Thanks