1. Another set of and signal lines (green and orange) is added for analyzing a bigger trend in a higher time frame. The default set of and signal lines (red and blue) are used for the smaller trend (current time frame).
2. Small upward and downward triangles are added to mark the golden and death crosses of and signal lines: Blue and red triangles (buy and sell signals) - golden and death crosses of and signal lines for the smaller trend (current time frame), green and orange triangles (buy and sell signals) - golden and death crosses of and signal lines for the bigger trend (a higher time frame).
3. The total areas of histograms above and below the zero axis are calculated and shown by the numbers next to the histogram. This information can be used to analyze the top and bottom divergences of the smaller trend (current time frame).
4. A line connecting peaks of adjacent positive or negative histograms is drawn when top and bottom divergences occur, which indicates a potential trend reversal.
This indicator can be used in the following way: after a golden cross occurs in the bigger trend (green arrow), a death cross in the smaller trend (red arrow) may lead to a potential long entry at the pull back of the bigger up trend; after a death cross occurs in the bigger trend (orange arrow), a golden cross in the smaller trend (blue arrow) may lead to a potential short entry at the pull back of the bigger down trend. Note that in general, golden crosses occur when and signal lines are above the zero axis means a higher high will be made, and death crosses occur when and signal lines are below the zero axis means a lower low will be made. On the contrary, golden crosses occurring below the zero axis or death crosses occurring above the zero axis may only lead to a potential pull back in a trend.
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.