OPEN-SOURCE SCRIPT
Updated Turbulence with direction
This indicator uses 28 SMA lines from SMA12 to SMA120 with an interval of 4 to reveal the unseen underlying structure that determines the stock price trend. The convergent area of MA lines usually creates support for the stock price. This indicator also includes a clock position for a clear view of the direction of the current trend.
This work is inspired by LoneCapical, Benoit Mandelbrot, and Bill Williams.
MA lines are colored with blue for bullish trends, red for bearish trends, and gray for no apparent direction.
This work is inspired by LoneCapical, Benoit Mandelbrot, and Bill Williams.
MA lines are colored with blue for bullish trends, red for bearish trends, and gray for no apparent direction.
Release Notes
This version calculates the slope with the logarithmic price difference and the logarithmic time interval, which provides a more accurate scale on the trend direction.Release Notes
Add an input option to turn the trading indication ON or OFF.Release Notes
Set the default option to not showing direction.Release Notes
Remove typos.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.
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.
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.