OPEN-SOURCE SCRIPT
Abz Simple Trend
The goal of this indicator is to provide an "at-a-glance" trend-oriented moving averages indicator that helps with medium and long term trades and investments.
It should work on any chart timeframe but is intended for people interested in how the price is trending over longer timeframes.
Everything in the indicator is calculated against a weekly chart. This means if you're viewing it on another chart timeframe, such as the daily chart, the indicator will show the lines in the same places.
This indicator is intended to be easy enough for people without significant technical chart reading knowledge: Red means the market momentum is likely negative. Green is "bullish".
This is a lagging indicator. If you're new, this may seem like a bad thing, but markets eventually "revert to the mean". They tend to overshoot up and down from major trend lines, but eventually reconnect.
The indicator tracks 4 different moving averages:
- The Main moving average that is the thick, bright line on the chart
- The momentum line
- The 28w moving average (with smoother applied)
- The slow moving average (200w with special filters and smoother applied). This is the final mean reversion line.
The indicator is set up with multiple alerts and you can adjust everything via the settings.
Just remember that no indicator is a "cure all". You should not blindly trade based on the signals this gives out. It is not optimized to be the perfect trading bot but it will help to validate or invalidate your decisions. It's my favorite "at-a-glance" indicator, but I always look at the price action and see when the price reverses as that will occur before the indicator confirms it.
Other indicators that may help you confirm your decisions include: Volume, MACD, and RSI (especially when you understand divergences between the price action and the RSI).
It should work on any chart timeframe but is intended for people interested in how the price is trending over longer timeframes.
Everything in the indicator is calculated against a weekly chart. This means if you're viewing it on another chart timeframe, such as the daily chart, the indicator will show the lines in the same places.
This indicator is intended to be easy enough for people without significant technical chart reading knowledge: Red means the market momentum is likely negative. Green is "bullish".
This is a lagging indicator. If you're new, this may seem like a bad thing, but markets eventually "revert to the mean". They tend to overshoot up and down from major trend lines, but eventually reconnect.
The indicator tracks 4 different moving averages:
- The Main moving average that is the thick, bright line on the chart
- The momentum line
- The 28w moving average (with smoother applied)
- The slow moving average (200w with special filters and smoother applied). This is the final mean reversion line.
The indicator is set up with multiple alerts and you can adjust everything via the settings.
Just remember that no indicator is a "cure all". You should not blindly trade based on the signals this gives out. It is not optimized to be the perfect trading bot but it will help to validate or invalidate your decisions. It's my favorite "at-a-glance" indicator, but I always look at the price action and see when the price reverses as that will occur before the indicator confirms it.
Other indicators that may help you confirm your decisions include: Volume, MACD, and RSI (especially when you understand divergences between the price action and the RSI).
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.
For quick access on a chart, add this script to your favorites — learn more here.
Absorbing info with every cycle
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.
For quick access on a chart, add this script to your favorites — learn more here.
Absorbing info with every cycle
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.