Anomaly Indicator V1.1

The Anomaly Indicator is an idea I recently come up with. Its very simple, yet it can be extremely useful. The Anomaly indicator detects the current and general trend channels. When the yellow line which is the current channel, exits the general channel this will usually mean an anomaly. Anomalies can vary within meaning, from a trend reversal, a market change (trending or rangebound) and lastly it can also give you an entering point. You can even use it to know the volatility of the market.

This is a very early version of the indicator and has pre-set values. I personally use it among a 5 minute chart for daytrading.

NOTE: Have in mind my indicator as ny other is not perfect, it might give fake signals. I suggest using Williams Alligator, and RSI with it. Best of luck. Follow my predictions under your own risk.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


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