Hellork

Chop Filter

It is common knowledge that most traders lose money by leaving trends too early and not letting profits run. Chop Filter attempts to paint over wrong-colored candles which might psychologically cause traders to bail off the trend. It also tries to detect potential trend reversals (experimental).

How it works. Chop Filter highlights wicks with a shaded background based on close relative to a volume-weighted moving average ( vwma ). If it closes up, or if there are higher lows, it shades the background blue. If it closes down, or there are lower highs, it colors the background red. Finally, it shows a big arrow indicating the direction prices are headed, based on the vwma . The arrow helps me to consider where prices might go, and play out different scenarios, rather than being a true prediction. In fact, it is often wrong when there is a lot of volatility , which can also be a good thing.

I find the shaded background has a calming effect that reduces stress. It also helps identify trends in the wicks that are otherwise difficult to see.

There are some other options to play with, such as highlighting narrowing or widening price action in yellow or optionally showing the vwma .

Have fun!
Gỡ bỏ khỏi Script Ưa thích Thêm vào Script Ưa thích

Bình luận

thanks
Phản hồi
Hi.

@Hellork I'm try to use the indicator but the trend line didn't out as the above visual.
Phản hồi
MrMama MrMama
What i mean is, the blue and red trend line. Its same or different indicator...?
Phản hồi
Hellork MrMama
@MrMama, That's just a Regression Trend, available in the Tradingview drawing tools, and also as an indicator.
Phản hồi
The yellow arrow is Chop Filter saying the price will break out to the upside, unless market momentum changes soon...

Was it correct? Click the |> to load more bars and see.
Phản hồi
Trang chủ Bộ lọc cổ phiếu Bộ lọc Forex Bộ lọc Tiền điện tử Lịch kinh tế Cách thức hoạt động Tính năng Biểu đồ Giá Giới thiệu bạn Quy tắc Áp dụng Trung tâm Trợ giúp Giải pháp cho Website & Nhà môi giới Widget Giải pháp biểu đồ Thư viện Biểu đồ Lightweight Blog & Tin tức Twitter
Hồ sơ Tùy chỉnh Hồ sơ Tài khoản và Thanh toán Giới thiệu bạn Ticket Hỗ trợ của tôi Trung tâm Trợ giúp Các ý tưởng đã đăng Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất