SPX trend breakdown

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This indicator is not granted for buying and selling confirmation, it is only for analysis. Entering or existing buy or sell is your decision and under your responsibility.
Please note that currently this indicator works only on ( spx s&p 500 index cfd sp )

explanation:
1- The purple line (candle high) is estimating the trend movement for short term.
2- The blue line (candle average) is moving average based on the candle highest close.
3- The black line (variable) is the actual movement of the trend.
- If black line above blue line with green background color, the candle is green and moving up.
- If black line above blue line with red background color, the candle is red but still above blue line.
- If the black line below blue line with red background color, the candle is red and moving down.
- If the black line below the blue line with green background color, the candle is green but still below blue line.
4- The green arrow up symbol above candle indicates that the top of current candle is higher than previous candle.
5- The green arrow up symbol below candle indicates that the bottom of current candle is higher than previous candle.
6- The red arrow down symbol above candle indicates that the top of current candle is lower than previous candle.
7- The red arrow down symbol below candle indicates that the bottom of current candle is lower than previous candle.

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Phát hành các Ghi chú

old version

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old version

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Phát hành các Ghi chú

This indicator only help for analysis, any decision you make is under your full responsibility.

This is new version:
- adding red line for candle bottom.
- adding pivot point for short term.

Please note that it varies depend on used timeframe