Awesome Trend Bands

Here I propose another band indicator, it is tuned to consider volatility expansion and compression, average possible movement, and RSI position to identify dominant sentiment in the market.

When you should go long that center band line will be colored lime when you are to enter shorts it will be red, this signal is great for trading both trending and contracting markets, so you can even trade mean reversion, it catches good moves.

And the best thing of all, it works on all markets/instruments and timeframes- without any inputs from the user.

Here are some charts>

Past performance is not an assurance of future performance, author is not responsible for your profit or loss.

Enjoy~

版本注释:

Updating to V5 and adding option to select source as per user request.

Enjoy~