It provides a 20 period for the timeframe of your choice which is color coded to show the trend according to confirmed .
- Long / Short bias is determined by trend
- Trader seeks entries according to their strategy
- Black consolidation areas may trigger a re-evaluation of the trade and can serve as good profit taking areas
- Green -> Higher highs & Higher lows
- Red -> Lower highs & Lowers lows
- Black -> No clear trend from the
Why the 20 SMA?
Feel free to adjust it for your purposes. I personally find that using a higher time frame 20 is a better indication of trend than longer period MAs on shorter time frames. This can be seen from comparing the 20 daily and 200 hourly .
The use the selected time frame (not) the MA trend time frame. You can specify the left and right candles required to confirm a
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.