FxTricks Trend Power
How it works?
- it calculates the main trend direction by using the length that is user-defined. so you can change it as you wish
- then it calculates the trend direction for each of the 9 lower lengths. if you set the length = 20 then the lengths are 19, 18,...11
- and it checks if the trend directions that came from lower lengths is same or not with the main trend direction.
- it changes the trend color of the ribbon.
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Warning: Entry points may also represent trend reversal. So you should use a stop-loss line if you decide to take buy/sell positions.
P.S. I didn't back-test it, it's non-repainting, and it should be used for educational purposes only.
Published by user request. You may want to see the following one:
Invite-only script
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Author's instructions
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact The_FxTricks directly.
Note that this private, invite-only script has not been reviewed by script moderators, and its compliance with House Rules is undetermined. TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.