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Quicksilver

EZ TrendEZ Trend creates a signal when the current open price is equal to, or within a set range of, the last close price AND current candle is the opposite color of last candle. This indicator is based on my observation that when O = C AND the last candle's color is opposite of the current candle, the NEXT candle seems to follow the color of the current candle and a change in trend tends to follow. This is not an absolute rule and it seems to work better with middle and higher priced assets where there is a lesser probability of O = C . Assets with very low prices or low volatility should use a Signal Precision value of 0. (ex: DGBBTC) and larger time frames tend to yield fewer false signals. Signal precision (the absolute value of the difference between O and C ) can be adjusted in 0.00000001 increments.
Pine Script® indicator
by Quicksilver80
Jun 10, 2016
11

Select market data provided by ICE Data services. Select reference data provided by FactSet. Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView, Inc.

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