OPEN-SOURCE SCRIPT
Updated FALGUN INDICATOR WITH SAR V1.0
This script is a trend-following system that uses a long-term and Short-term Moving Average to spot the trend.
Default Settings and Calculation:
- The trend is detected using the Simple Moving Average on 200 periods and 30 Periods.
- The Market is considered an Uptrend when the price closes above the 30 and 200 Moving Averages.
- The Market is considered in a Downtrend when the price closes below the 30 and 200 Moving Averages.
This script is best suited for all timeframes.
The options allow for modification of the type of moving average to use.
Default Settings and Calculation:
- The trend is detected using the Simple Moving Average on 200 periods and 30 Periods.
- The Market is considered an Uptrend when the price closes above the 30 and 200 Moving Averages.
- The Market is considered in a Downtrend when the price closes below the 30 and 200 Moving Averages.
This script is best suited for all timeframes.
The options allow for modification of the type of moving average to use.
Release Notes
In New Version if Moving Averages change color if price start trading below Moving AveragesOpen-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.