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ROBO_Trading

BarColor v1.0

ROBO_Trading  
Trend Analysis
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trendanalysis
Very unusual trend indicator. Strange, but this idea works.

Idea

GreenBar = close > open
RedBar = close < open

Only 8 last bars are considered. Including current.

GreenBars 6, 7 or 8 of pieces from 8 last = UpTrend = Lime background

GreenBars 0, 1 or 2 of pieces from 8 last = DownTrend = Red background
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

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