The Trend Risk Indicator is a simple bands indicator made of 2 custom averages of candlesticks ranges calculated within the variable “BandBars” period.
Upper and lower channel bands width can be adjusted with the “Deviation” variable, which act as a simple factor to enlarge the spread between them.
When Close crosses over the upper band, it is a bearish signal and candlesticks are painted in Red. When Close crosses under the lower band, it’s a bullish signal and candlesticks are painted in Green.
One of the most interesting indicators for 1 minute scalping. Recommended to use on Renko bars.
*drag to chart and pin to scale, also remove borders from candlesticks.
Indicator can be used as inversive by combining parameters.
people777
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@Covax, Could you elaborate? Very cool indicator btw... just checking it out now. Seems to be supporting the inclination that an Alt season may be moving on us very soon...
UnknownUnicorn170838
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@people777, Made an automated system based on this indicator, and it is unprofitable for a long period with any parameters. Principle as well as absolutely any other of all existing indicators in a single kind.
people777
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@Covax, Interesting... I don't know-- It's worked pretty well for me! Helped me buy both ENJIN and LOOM before they mooned... Can't be too bad! Note: I used with Renko blocks and only bought when price was below the green line, indicating "bullish" as per the instructions...