OPEN-SOURCE SCRIPT

Trend Shader

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This simple but useful indicator automatically detects whether you’re on a 1 minute, 5 minute, or 15 minute chart (with sensible, pre-tuned EMA settings), and shades the chart background green when the trend is bullish, or red when it’s bearish. On any other timeframe it falls back to user-specified “manual” EMA lengths. The short and long EMA lengths are configurable on all timeframes. Really useful when you want to trade in the direction of the overall trend.

The color doesn't change until the trend is confirmed by a reasonable number of bars in the same direction so it doesn't just flip-flop with market noise. The confirmation bar count for each timeframe is also configurable.

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