Wells Wilder Indicator Reactor by InvestitoreComune

The original script was posted on ProRealCode by user TradeRanger.

This program allocates points to a running total when the conditions of an indicator are reached Scores are between 1-5 as follows:
1 - Ranging Market. Do not trade
2 - Trend may be forming. Do not trade
3 - Early stages of trend. Monitor
4 - Trending Market. Trade
5 - Strong Trending Market. Trade

Negative scale is for bearish market.

You can also use this Indicator when it crosses zero line, but it's a bit more risky.

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.

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.

Want to use this script on a chart?