GRIB Trendline — Indicator by LeMogwai

grib trend trendline sar grape bitcoin btc

GRIB Trendline show the distance betwen the price and the SAR with the GRIB settings in percentage. It highlight the elasticity of the wave. It's designed to be used with trendlines to spot the bottoms and the tops.
More explanation here :

and here :

note : do not use "selldot" and "buydot", i was testing something and gave up about the idea

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

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?

study(title="GRIB Trendline", shorttitle="GRIB Trend")
source = close
start = input(0.057)
increment = input(0.005)
maximum = input(2)
out = sar(start, increment, maximum)
price = ((high+low)/2)
plot(price<out?-((out-low)/price)*100:((high-out)/price)*100, style=line, transp=70, color=white,linewidth=2)