Dreadblitz

Market Mode

The Market Mode indicator seeks to identify trends and rebounds by identifying “phases” according to the principles of John Ehlers .

- When the oscillator passes above the top line, the market is in an uptrend.
- When the oscillator goes below the bottom line, the market is in a downtrend.
- Between these two levels, the market is calmer and could rebound in the direction of the initial trend and / or phase of trend change.

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.

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Comments

Hey. I tried out this one... but the pinescript says that it's not working... Would you have any ideas or solutions for this? Would love to try this one out and pay if it good.
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Glenpop ak4442
@ak4442, The solution is to google the error, identify the problem in the code and fix it.
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ak4442 Glenpop
@Glenpop, great idea. :)
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undeclared identifier "#loc_22" is coming while saving the script in line 35... any solutions please guide
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ak4442 uttam36er
@uttam36er, yoyo. on line 35 --> change it to this... it's a simple error --> " mean := mean+workbp " --> basically, there is a missing " : " to the left of the equal sign on line 35. Hope this helps dude! :D
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@ak4442, thanks for the help with that...
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