OPEN-SOURCE SCRIPT
Smoothed Repulse
The original script was posted on ProRealCode by user Nicolas.
It's based on the Repulse indicator which is an indicator that shows the bullish or bearish pressure on the price at any one time. It is particularly significant when it crosses above or below the 0 line because this indicates the start of a new bullish or bearish trend.
The Smoothed Repulse indicator is obviously a smoothed out version of this indicator and it does seem to illustrate the trend extremely well.
It's based on the Repulse indicator which is an indicator that shows the bullish or bearish pressure on the price at any one time. It is particularly significant when it crosses above or below the 0 line because this indicates the start of a new bullish or bearish trend.
The Smoothed Repulse indicator is obviously a smoothed out version of this indicator and it does seem to illustrate the trend extremely well.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.