OPEN-SOURCE SCRIPT
D3score
Assigned negative scores in increasing order if candle close is below previous candle lows up to 10 candles and assigned positive scores in increasing order if candle close is above previous candle high. Moving average of the last twenty score is smoothed by dividing it with standard deviation of scores for the same period.
Score above zero indicates positive trend and score below zero indicates negative trend.
scores are assigned based on price action and this indicator needs to be used in conjunction with other indicators.
Yellow dotted line is zero line. Upper and lower thresholds fixed at +1 and -1
Score above zero indicates positive trend and score below zero indicates negative trend.
scores are assigned based on price action and this indicator needs to be used in conjunction with other indicators.
Yellow dotted line is zero line. Upper and lower thresholds fixed at +1 and -1
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.