OPEN-SOURCE SCRIPT
Course Gradient Indicator
Names:
Description:
I developed this Indicator to identify potential changes in the course gradient (aka slope of course). If you want to know what kind of mathmatical operations where used for this, look at the source code below
Usage:
Generally, i would say that the "SMA of Gradient" crossing above both the "MAG Smooth" and the "Indication" lines (sorry for the bad names btw. If you have better ideas for easier names, tell me) is a good indication for a rising course. Therefore - dichotomous - when it crosses below both other lines, it might be an indication for a falling course.
Please go ahead and experiment with this indicator.
Let me know what you think :)
- "Course Gradient Indicator" or
- "Punctual Deviaton of Course Gradient Indicator" or shortly
- "PDCG Indicator"
Description:
I developed this Indicator to identify potential changes in the course gradient (aka slope of course). If you want to know what kind of mathmatical operations where used for this, look at the source code below
Usage:
Generally, i would say that the "SMA of Gradient" crossing above both the "MAG Smooth" and the "Indication" lines (sorry for the bad names btw. If you have better ideas for easier names, tell me) is a good indication for a rising course. Therefore - dichotomous - when it crosses below both other lines, it might be an indication for a falling course.
Please go ahead and experiment with this indicator.
Let me know what you think :)
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.