TrendBars — Indicator by Genesis-Trader

This new bar system consists of candles connected to each other with trend lines.

I have defined a falling trend if the current peak is lower than the previous peak, and an rising trend if the current low is higher than the previous low.

When the series of lows or highs is broken, indicating a reversal in the trend, the candles change color. This provides a fresh perspective when monitoring the trend.

Continue to stay tuned for original concepts and many more new systems. Happy trading!

Release Notes:

Sahpes readded.

Release Notes:

update!

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.

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