Table: Trendingness of Days and Weeks

I really love the new Pinescript creation --- tables. This one is designed to remind you of DAILY and WEEKLY data when you drop to lower timeframe charts.

Weekly and Daily HIGHS and LOWS are completely objective pieces of information. Good for declaring characteristics of a trading day.

► If any week or day is considered BULLISH, it means the CLOSING price is ABOVE PREVIOUS week's or day's HIGH. The tile will be colored green.
► If any week or day is considered BEARISH, it means the CLOSING price is BELOW PREVIOUS week's or day's LOW. The tile will be colored red.
► When none of the above happens, I do not consider the week or day to be trending. Thereby, the week or day will be colored gray.

There is also a number that represents the strength of the trend. I am not interested in open, instead, the number represents a distance from PREVIOUS HIGH to the CLOSE.

This way, I ditch open and only consider how much the price moved after the breakout. An increasing momentum between the weeks or days signifies a strength. An opposite means weakness.

Obviously, the distance is always a positive number. If an instrument moves to the downside, you know that from the color of the tile.

Lastly, there are two different DAILY EXPONENTIAL MOVING AVERAGES. It is 200 and 20. My table reports back to you last time the price was above the moving average or below it. A period of 200 is often watched by long-term investors, whereas 20 seems to be frequently favored among short-term traders.

Have a good day!

Took me a couple of years of reading books and watching educational videos before I found a style that I am comfortable and profitable with. Stay determined! Don't lose motivation!
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.


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.

Want to use this script on a chart?