OPEN-SOURCE SCRIPT
Bjorgum TSI Arrows
This script is intended to help the viewer identify potential turning points with momentum "headwinds" or "tailwinds" with a visual que at the bar level. The presence of arrows indicates that the TSI indicator is either "curling" up under the signal line, or "curling" down over the signal line. This can help to anticipate reversals, or moves in favor of trend direction.
Multiple script overlays can be used for "Multi-timeframe analysis" by altering the "resolution" feature.
eg: Viewer could enable 2 "Arrow" scripts while watching the daily timeframe, and setting one of them to indicate weekly conditions. This can help identify prevailing trend strength when using smaller timeframes.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.