MohitMarwaha

Trend Filter

The indicator paints the bar colours based on the average open and average close for past N days.
if average close is above average open, the bars are coloured green, otherwise they are coloured red

It can be used as a general trend filter on weekly, daily bars. even on intraday timeframes, this would work well and give a sense of the current trend direction.
Release Notes: Added the Moving Average Plots and an additional arrow whenever there is a trend change.
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WHy only color the bars? You should add a visible line so to be able to keep track of potential turning points before they happen.
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MohitMarwaha GoldBowtie
@GoldBowtie, sure. here you go. have also changed the bar colours to be different on up and down closes for easier identification
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