PROTECTED SOURCE SCRIPT
Updated CEDCR - momentum and trend analysis
DESCRIPTION
CEDCR is a momentum and trend analysis script, visualized by a pair of lines (Top and Bottom) that signal strength and direction of upcoming moves. The lines tend to converge and diverge around a midpoint line of 0.31-0.33 (the midpoint line is slightly different depending on the asset class). When the lines are converging it signals trend reversal and when they are diverging it indicates strength.
SCRIPT MECHANICS
CEDCR lines are calculated using a combination of Moving Averages, RSI and OnBalanceVolume.
KEY LEVEL
Midpoint Level : 0.31-0.33, most asset classes have the lines converging and diverging around the midpoint line.
HOW TO USE
- Lines converging: Upcoming reversal of current trend.
- Lines diverging: Strengthening of current trend.
- Bottom(purple) line crossing over Top(green) line is bearish .
- Top (green) line crossing over Bottom(purple) is bullish .
SIGNALS
The signals are just an additional helpful visual aid.
Buy signal is the green band when divergence between Top and Bottom > 0.05 on Top line crosses over Bottom line.
Sell signal is the red band when divergence between Top and Bottom has weakened below 0.5.
CEDCR is a momentum and trend analysis script, visualized by a pair of lines (Top and Bottom) that signal strength and direction of upcoming moves. The lines tend to converge and diverge around a midpoint line of 0.31-0.33 (the midpoint line is slightly different depending on the asset class). When the lines are converging it signals trend reversal and when they are diverging it indicates strength.
SCRIPT MECHANICS
CEDCR lines are calculated using a combination of Moving Averages, RSI and OnBalanceVolume.
KEY LEVEL
Midpoint Level : 0.31-0.33, most asset classes have the lines converging and diverging around the midpoint line.
HOW TO USE
- Lines converging: Upcoming reversal of current trend.
- Lines diverging: Strengthening of current trend.
- Bottom(purple) line crossing over Top(green) line is bearish .
- Top (green) line crossing over Bottom(purple) is bullish .
SIGNALS
The signals are just an additional helpful visual aid.
Buy signal is the green band when divergence between Top and Bottom > 0.05 on Top line crosses over Bottom line.
Sell signal is the red band when divergence between Top and Bottom has weakened below 0.5.
Release Notes
- updated to support pinescript v5- added buy (green) and sell (red) bands
- added high, low and mid plots
Release Notes
- Fixed typos- Updated chart
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.