TBCRI - Trend Bar Color Reversal Indicator by rasantos

oscillator centeredoscillator trendanalysis trend reversal normalized stddev deviation standard variance semaphor

An idea I had today morning so I had to write. It seems to detect trends well. It has three phases like a semaphor, painting the chart bars of green, yellow or red.

=== Bar Color Meaning ===
Green: uptrend
Yellow: don't care
Red: downtrend

I think it can be useful!

Thanks!

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.

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