HL avg MTF

1136 20
This indicator try to find trends more accurate
So first step is to make candle MTF and to find the average of high and low of the MTF candle. I think a ratio of 4/1 is good .
so this seen in the lime /red line
after we take this line and transform it to linear regression type . I use here 50 candle size seen in blue line
if close are above the blue line then we are above the avg of the high and low of the mtf candle .. this indicate a positive trend. if we close is bellow the blue line then it a negative trend and it good time to short it .
also very important is the direction of the blue line as it give us the direction of the trend

Nov 20
Release Notes: add trend color instead the blue line using the code that fikira posted
I think now it better
thanks for fikira for this improvment
Nov 21
Release Notes: change the way the XY which is the mean line of high and low +add signal to it
This is a modified script based on Alex grover trend detection method for link to original study for this method 'scroll down in script for lik
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Can you add alerts for signals? Thanks!
Does it work with Heikin Ashi? Thanks!
love everything you do :cheers:
its repaint
RafaelZioni dsaidasi
@dsaidasi, no..the color of the xy line can be repainted as it open over close..can be fix to non reapinting mode..maybe i removed it..but the trend line which is the key in this indicator not repaint
RafaelZioni dsaidasi
@dsaidasi, now check it again
dsaidasi RafaelZioni
@RafaelZioni, i understand,but i see the trend line was changed,i do not know why
Appreciated RafaelZioni provide a lot of good stuff for us; thank you =D

Very nice!

I don't know but maybe it is useful the "calculationToPlotAverageMeanLine" changes color as well if it goes up or down?

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