One of the key factor in understanding the trend is to look at higher time-frames chart.
Parameters are explained below:
- resolution : Chose resolution of higher timeframe. If set to same as symbol, it will consider next parameter HTFMultiplier for calculation of higher timeframe
- HTFMultiplier : Multiply symbol timeframe to by HTFMultiplier to derive higher time-frame
- Offset: Number of higher timeframe candles before to be plotted. 1 means - it will show highs/lows of previous higher timeframe candle.
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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.