OPEN-SOURCE SCRIPT
Arah Lilin
This indicator is made to see the trend of candle movement.
there are three lines namely top, middle, and bottom.
the top and bottom lines are made using the Keltner channel indicator and the middle line is made using the exponential moving average indicator.
there is a forecast point for the midline to determine the future movement of the candle.
however, it must be used with reason and other analysis to strengthen the point of prediction.
how to use: (approximately the same as the Bollinger band indicator and Keltner channel)
1. look at the direction of movement of the candle
2. Determine the direction using this indicator and your analysis techniques
there are three lines namely top, middle, and bottom.
the top and bottom lines are made using the Keltner channel indicator and the middle line is made using the exponential moving average indicator.
there is a forecast point for the midline to determine the future movement of the candle.
however, it must be used with reason and other analysis to strengthen the point of prediction.
how to use: (approximately the same as the Bollinger band indicator and Keltner channel)
1. look at the direction of movement of the candle
2. Determine the direction using this indicator and your analysis techniques
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.