Trend Filter — Indicator by MohitMarwaha

The indicator colours the candles either Green or Red depending on the following conditions:-
If the N Bar Average Close > N Bar Average Open, the Bars are coloured Green.
If the N Bar Average Close < N Bar Average Open, the Bars are coloured Red.

MohitMarwaha

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

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Want to use this script on a chart?

//@version=2
study(title="Trend Filter", overlay = true)
maPeriod = input(title="MA Period", type=integer, defval=20, minval=1)
OpenMa = sma(open,maPeriod)
CloseMa = sma(close,maPeriod)
isBullish() => OpenMa < CloseMa
isBearish() => OpenMa > CloseMa
barcolor(isBullish() ? green : isBearish() ? red : na)