So this indicator tries to spot ranges;
Above the zero line is the data from green candles and below the zero line is the data from the red candles;
When the white area is > than the black area, it indicates that the DrawBack is higher than the DrawDown;
This might work counterintuitively for some people because, for a bullish candle, this means it has...
█ This indicator shows an upper and lower band based on Highs and Lows.
Depending on this, the indicator interprets a ranging market, an uptrend or a downtrend.
The purpose of this indicator is to identify when the price is ranging.
It's also used to identify changes in trends, breaking points, and trend reversals.
But it can also be used to show...
Hello Everyone. I hope you are all doing great. It's been a long time since I posted my first script here, and I got a lot of response from that.
So, I thought I should share this script also to everyone, and anyone that may find it useful. Personally, I use it to tell the general market conditions.
Here's how I works : The script tries to determine the overall...
Original Idea by Invsto
In this indicator, I explore the core concepts of RSI and extend it with smoothening to determine volatility.
LIME/GREEN : High Volatility and BULLISH trend
RED/FUCHSIA : High Volatility and BEARISH trend
GRAY: Low volatility/Potential Chop Zone
This is a EMA Delta Oscillator: An attempt to show ranging markets based on the slope of the EMA.
Green = Bullish Market
Blue = Ranging Market
Red = Bearish Market
The EMA Slope is normalized to make it work like an oscillator with values between 0 and 1.
Bar colors show the oscillator colors, bar borders show the actual candle colors.