Two EMA's crossing w/ TRIX & ADX/DI & EMA@RSI filteringThe initial idea for the "X-candle" script is from @nmike, and the requirement was to mark the bar with positive or negative as EMA(5) and EMA(13) cross. Later, it was requested to filter the above with Trix(3) so it just crosses the "zero" line and goes in either positive or negative territory - confirming the EMA's crossing.
In addition, one of my ideas was to integrate 2 more rules, and the final looked something like this ...
The script marks the candle vertical background with green or red when all 4 rules are satisfied:
1. Between the current and previous bar has to be a cross of the EMA lines (by default: EMA 5 and EMA 13)
2. The current bar is the first or second bar crossing the zero TRIX line ... going in either Positive or Negative range, confirming the first rule
3. ADX is above threshold 25 & DI is also valid (higher than the opposite DI) ... confirming trend direction and strength
4. EMA(21) on top of RSI(13), one of my favorites, so it has to be valid also
At the end the script did extensive filtering, and it does filter some good ones also. Needs more work, less filtering, more tolerance, and new rules. All of the above indicator parameters can be modified easily, so anybody can play with. If you find some better indicator parameters that will provide a more efficient filtering, please let us know and drop me a note.
Thanks!
Tìm kiếm tập lệnh với "adx"
Two EMA's crossing w/ TRIX & ADX/DI & EMA@RSI filteringThe initial idea for the "X-candle" script is from @nmike, and the requirement was to mark the bar with positive or negative as EMA(5) and EMA(13) cross. Later, it was requested to filter the above with Trix(3) so it just crosses the "zero" line and goes in either positive or negative territory - confirming the EMA's crossing.
In addition, one of my ideas was to integrate 2 more rules, and the final looked something like this ...
The script marks the candle vertical background with green or red when all 4 rules are satisfied:
1. Between the current and previous bar has to be a cross of the EMA lines (by default: EMA 5 and EMA 13)
2. The current bar is the first or second bar crossing the zero TRIX line ... going in either Positive or Negative range, confirming the first rule
3. ADX is above threshold 25 & DI is also valid (higher than the opposite DI) ... confirming trend direction and strength
4. EMA(21) on top of RSI(13), one of my favorites, so it has to be valid also
At the end the script did extensive filtering, and it does filter some good ones also. Needs more work, less filtering, more tolerance, and new rules. All of the above indicator parameters can be modified easily, so anybody can play with. If you find some better indicator parameters that will provide a more efficient filtering, please let us know and drop me a note.
Thanks!
Glory Hole with SMA + ADX - StrategyHere you get a script with the rules for "Glory Hole"-Strategy from Linda Raschke.
In Addition, I choose the SMA - not the EMA for this script.
MY RECOMMONDATION:
If you get a trade Signal, then set an sell- oder buy-order on the high or low. If the next bar doesn't touch into the trade, then delete your order.
Have fun and good look.
Directional Trend Index (DTI) This technique was described by William Blau in his book "Momentum,
Direction and Divergence" (1995). His book focuses on three key aspects
of trading: momentum, direction and divergence. Blau, who was an electrical
engineer before becoming a trader, thoroughly examines the relationship between
price and momentum in step-by-step examples. From this grounding, he then looks
at the deficiencies in other oscillators and introduces some innovative techniques,
including a fresh twist on Stochastics. On directional issues, he analyzes the
intricacies of ADX and offers a unique approach to help define trending and
non-trending periods.
Directional Trend Index is an indicator similar to DM+ developed by Welles Wilder.
The DM+ (a part of Directional Movement System which includes both DM+ and
DM- indicators) indicator helps determine if a security is "trending." William
Blau added to it a zeroline, relative to which the indicator is deemed positive or
negative. A stable uptrend is a period when the DTI value is positive and rising, a
downtrend when it is negative and falling.
You can change long to short in the Input Settings
Please, use it only for learning or paper trading. Do not for real trading
Directional Trend Index (DTI) Strategy This technique was described by William Blau in his book "Momentum,
Direction and Divergence" (1995). His book focuses on three key aspects
of trading: momentum, direction and divergence. Blau, who was an electrical
engineer before becoming a trader, thoroughly examines the relationship between
price and momentum in step-by-step examples. From this grounding, he then looks
at the deficiencies in other oscillators and introduces some innovative techniques,
including a fresh twist on Stochastics. On directional issues, he analyzes the
intricacies of ADX and offers a unique approach to help define trending and
non-trending periods.
Directional Trend Index is an indicator similar to DM+ developed by Welles Wilder.
The DM+ (a part of Directional Movement System which includes both DM+ and
DM- indicators) indicator helps determine if a security is "trending." William
Blau added to it a zeroline, relative to which the indicator is deemed positive or
negative. A stable uptrend is a period when the DTI value is positive and rising, a
downtrend when it is negative and falling.
Intraday TS ,BB + Buy/Sell +Squeeze Mom.+ adx-dmiIntraday 5+ min indicator/strategy. Mix of indicator as BB, Ema , Roc , adx/dmi with buy and TP/SL point. All in 1 indicator easy to use . Just look the color chnge and the shape add the the bars
Indicators: Chartmill Value Indicator & Random Walk IndexChartMill Value Indicator & Modified ChartMill Value Indicator :
-------------------------------
Developed by Dirk Vandycke, CVI tracks how far the price spread is from its MA. Since MA keeps increasing even when price consolidates or stalls, it is very difficult for the deviation from a moving average to remain in the overbought or oversold regions for extended periods, which represents a significant improvement over other oscillators such as the RSI and Stochastic indicators.
However, a simple price spread from a moving average would not be comparable across all securities, which would preclude us from using the spread in systematic strategies. Fortunately, Mr.Vandycke addresses this problem by dividing the spread by the average true range, which is dependent on both the price level and volatility of the underlying security.
There is a variation of CVI called Modified CVI, which does time normalization of ATR (not the MA). This indicator supports displaying "Modified CVI" too. Check the options page.
This indicator is best used with other oscillators, to confirm signals. Zero line (in this case, "1" line since the gray line is drawn at the value of 1) crossovers should also be considered as signals.
I suggest tuning the OB/OS levels to match your instrument (usually it is around 0.5/-0.5 range).
More info:
www.traders.com
Random Walk Index
-------------------------
RWI is used to determine if an issue is trending or in a random trading range (like ADX/Aroon). It attempts to do this by first determining an issue's trading range. The next step is to calculate a series of RWI indexes for the maximum look-back period. The largest index move in relation to a random walk is used as today's index.
Michael Poulos, inventor of RWI, recommends 2 to 7 for the short-term time frames and 8-64 for long terms. An issue is trending higher if the long term RWI of highs is greater than 1, while a downtrend is indicated if the long term RWI of lows is greater than 1.
Below are some more rules developed by Mr.Poulos:
- Enter a long (or close short) when the long-term RWI of the highs is greater than 1 and the short-term RWI of lows peaks above 1
- Enter short (or close long) when the long-term RWI of the lows is greater than 1 and the short-term RWI of highs peaks above 1
More info:
- tradingsim.com
For displaying only the histogram (as shown in the bottom pane), select "ShowOnlyHistogram" in the options page.
ADX DI Signal v1.BitUniversityAverage Directional Index with buy and sell signals
This oscillator is used in a training course conducted by @Bituniversity
For a reliable trading you need more information related to market and this oscillator just give us a big picture of of the market.
Please, do not trade just using this tool alone.
ADX and DI+ & DI- sub levelsThis indicator contains 3 levels of configuration to measure the strength of DI + and DI- when any of the two is below level 20 it is possible that the price will change trend.
Este indicador contiene 3 niveles de configuracion para medir la fuerza de DI+ y DI- cuando cualquira de los dos este por debajo del nivel 20 es posible que el precio cambie de tendencia.
ADX indicatorUsed for trendanalysis - fill colors give the user an idea of trend direction - and/or shift in trend.
Enjoy
ADX/DI Trend Strengthpink line = directional with price, bull strength
black line = counter-directional with price, bear strength
histogram = trend strength confirmation
high pink + high histogram = strong bull
high pink + low histogram = weak bull
high black+ high histogram = strong bear
high black + low histogram = weak bear
ADX Volatility Moving AverageThe ADXVMA is a volatility based moving average with the volatility being determined by the value of the ADX. The ADXVMA provides levels of support during uptrends and resistance during downtrends. Original NT indicator by Fat Tails on futures.io, just ported it to pinescript
Pulse Volume Commitment [JOAT]
Pulse Volume Commitment - Three-Dimensional Momentum Analysis
Introduction and Purpose
Pulse Volume Commitment is an open-source oscillator indicator that analyzes price action through three distinct dimensions: Quantity (candle count), Quality (body structure), and Commitment (volume-weighted quality). The core problem this indicator solves is that simple bullish/bearish candle counts miss important context. A market can have more green candles but still be weak if those candles have small bodies and low volume.
This indicator addresses that by requiring all three dimensions to align before generating strong signals, filtering out weak moves that lack conviction.
Why These Three Dimensions Work Together
Each dimension measures a different aspect of market conviction:
1. Quantity - Counts bullish vs bearish candles over the lookback period. Tells you WHO is winning the candle count battle.
2. Quality - Scores candles by body size relative to total range. Full-bodied candles (small wicks) indicate stronger conviction than doji-like candles. Tells you HOW decisively price is moving.
3. Commitment - Weights quality scores by volume. High-quality candles on high volume indicate institutional participation. Tells you WHETHER smart money is involved.
When all three align (e.g., more bullish candles + bullish quality + bullish commitment), the signal is significantly more reliable.
How the Calculations Work
Quantity Analysis:
int greenCount = 0
int redCount = 0
for i = 0 to lookbackPeriod - 1
if close > open
greenCount += 1
if close < open
redCount += 1
bool quantityBull = greenCount > redCount
Quality Analysis (body-to-range scoring):
for i = 0 to lookbackPeriod - 1
float candleBody = close - open // Signed (positive = bull)
float candleRange = high - low
float bodyQuality = candleRange > 0 ? (candleBody / candleRange * 100) * candleRange : 0.0
sumBodyQuality += bodyQuality
bool qualityBull = sumBodyQuality > 0
Signal Types
FULL BULL - All three dimensions bullish (Quantity + Quality + Commitment)
FULL BEAR - All three dimensions bearish
LEAN BULL/BEAR - 2 of 3 dimensions agree
MIXED - No clear consensus
STRONG BUY/SELL - Full confluence + ADX confirms trending market
ADX Integration
The indicator includes ADX (Average Directional Index) to filter signals:
- ADX >= 20 = TRENDING market (signals more reliable)
- ADX < 20 = RANGING market (signals may whipsaw)
Strong signals only trigger when full confluence occurs in a trending environment.
Dashboard Information
Quantity - BULL/BEAR/FLAT with green/red candle ratio
Quality - Directional bias based on body quality scoring
Commit - Volume-weighted commitment reading
ADX - Trend strength (TRENDING/RANGING)
Signal - Confluence status (FULL BULL/FULL BEAR/LEAN/MIXED)
Action - STRONG BUY/STRONG SELL/WAIT
How to Use This Indicator
For High-Conviction Entries:
1. Wait for FULL BULL or FULL BEAR confluence
2. Confirm ADX shows TRENDING
3. Enter when Action shows STRONG BUY or STRONG SELL
For Filtering Weak Setups:
1. Avoid entries when signal shows MIXED
2. Be cautious when ADX shows RANGING
3. Require at least 2 of 3 dimensions to agree
For Divergence Analysis:
1. Watch for Quantity bullish but Commitment bearish (distribution)
2. Watch for Quantity bearish but Commitment bullish (accumulation)
Input Parameters
Lookback Period (9) - Bars to analyze for all three dimensions
ADX Smoothing (14) - Period for ADX calculation
ADX DI Length (14) - Period for directional indicators
Timeframe Recommendations
15m-1H: Good for intraday momentum analysis
4H-Daily: Best for swing trading confluence
Lookback period may need adjustment for different timeframes
Limitations
Lookback period affects signal responsiveness vs reliability tradeoff
Volume data quality varies by exchange
ADX filter may cause missed entries in early trends
Works best on liquid instruments with consistent volume
Open-Source and Disclaimer
This script is published as open-source under the Mozilla Public License 2.0 for educational purposes.
This indicator does not constitute financial advice. Confluence signals do not guarantee profitable trades. Always use proper risk management.
- Made with passion by officialjackofalltrades
SMA Strategy [MK]Overview
This strategy is a momentum-based trend-following system designed to capture sustained market moves while minimizing "whipsaws" often found in sideways markets. It utilizes a dual-SMA filter for trend direction, a precise price-crossover trigger for entry, and the Average Directional Index (ADX) to gauge market strength.
How It Works
The strategy follows a strict "Trend + Momentum + Strength" hierarchy:
1. Trend Identification (The Filter) The script uses a Fast SMA (20) and a Slow SMA (50).
Long Bias: SMA-20 > SMA-50.
Short Bias: SMA-20 < SMA-50.
2. Precise Entry (The Trigger) Unlike strategies that enter simply because the price is above a line, this script requires a Price Crossover.
Long Entry: Price must actively cross from below to above the SMA-20.
Short Entry: Price must actively cross from above to below the SMA-20.
3. Trend Strength (The ADX Gatekeeper) To solve the problem of sideways markets where moving averages run parallel, we’ve integrated the ADX (Average Directional Index). The strategy will only trigger a trade if the ADX is above a user-defined threshold (default is 25), ensuring we only enter when the market is trending.
4. RSI Safety Filter To prevent "buying the top" or "selling the bottom," the RSI checks for overextended conditions. It prevents long entries if the RSI is already overbought and short entries if it is oversold.
Exit Logic
The strategy features three layers of protection:
Trend Reversal Exit: Closes the position if the price crosses back over the SMA-20 while the macro trend (SMA-20/SMA-50) has flipped.
Fixed Take Profit: A percentage-based target to lock in gains during sharp moves.
Fixed Stop Loss: A percentage-based safety net to protect capital.
Key Features
Directional Selector: Choose between "Long Only," "Short Only," or "Both."
Visual Feedback: Background colors highlight "Trending" (Green) vs "Sideways" (Red) market regimes.
Fully Customizable: All lengths and thresholds for SMAs, RSI, and ADX can be adjusted to fit different assets and timeframes.
Instructions for Use
Timeframe: This strategy is optimized for trending timeframes such as the 1-Hour (1H), 4-Hour (4H), or Daily (D). Using it on very low timeframes (1-minute or 5-minute) may increase the number of false signals due to market noise.
Asset Classes: Best suited for high-volume assets like Major Forex Pairs, Large-Cap Stocks, and Blue-Chip Cryptocurrencies.
Parameter Tuning: Use the "Strategy Tester" to find the ideal ADX Threshold for your specific asset. Volatile assets usually require a higher ADX (30+) to filter out fake breakouts.
Disclaimer
Financial Risk Warning: The script provided is for educational and informational purposes only. Trading involves significant risk, and there is always the potential for loss. Past performance, whether simulated or real, is not a guarantee of future results.
The author of this script is not a financial advisor. This indicator is not a signal service or a recommendation to buy or sell any security. Always perform your own due diligence and test any strategy thoroughly on a demo account before risking live capital. By using this script, you acknowledge that you are solely responsible for your trading decisions and any resulting financial outcomes.
Adaptive Kinetic Trend [AKT] Pure MathTitolo: Adaptive Kinetic Trend - Pure Math
Descrizione:
Overview The Adaptive Kinetic Trend is a custom-built trend following system designed to filter noise and adapt to changing market volatility. Unlike standard indicators that rely on a static calculation, the AKT introduces a "Kinetic" component that adjusts the trend baseline according to price velocity (Momentum) and market intensity (ADX).
The "Pure Math" Implementation To ensure maximum stability and prevent potential discrepancies associated with data gaps or library updates, this script features a 100% manual mathematical library. It does not use TradingView's native ta.* functions for its core logic. Every calculation—including Wilder's Smoothing (RMA), Weighted Moving Averages (WMA), and True Range (TR)—is computed explicitly within the code from raw price data. This provides a transparent look at how the signals are derived.
Key Features
1. Kinetic Center Line The backbone of the indicator is an adaptive moving average that shifts its sensitivity based on a manually calculated RSI (Velocity).
High Velocity: The line reacts faster to capture breakout momentum.
Low Velocity: The line smooths out to prevent whipsaws during corrections.
2. Dynamic Volatility Expansion Using a custom ADX calculation (Intensity), the bands automatically expand during high-volatility events. This helps keep positions open during strong trends where standard ATR stops might be triggered prematurely.
3. Visual Filters (Color Logic) The script uses a strict color-coding system to guide analysis:
🟢 Green / 🔴 Red (Trend): The market is in a validated trend phase with sufficient intensity.
⚪ Gray (Choppy Filter): When Intensity falls below the threshold (default 20), the bars turn gray and signals are suppressed. This filters out low-probability ranging markets.
🟡 Yellow (Proximity Zone): When price trades within 0.5 ATR of the trend line, bars turn yellow. This indicates price is testing the trend structure.
4. Smart Pullback Signals (PB) Small triangles labeled "PB" appear when the price retraces to test the trend line.
Visual Intensity: The signals feature adaptive transparency. They appear bright during strong trends (High Probability) and faded/transparent during choppy conditions (Lower Probability), helping users filter signal quality visually.
5. Live Dashboard A data panel provides real-time metrics:
Trend Status: BULL, BEAR, or RANGE.
Intensity: Raw ADX value to gauge trend strength.
Dist ATR: The precise distance from the close price to the stop-loss line, measured in ATR multiples.
How to Use
Trend Analysis: Identify the main direction via Green/Red candles.
Filtering: Use the Gray bars to identify periods of low volatility/consolidation where trend strategies typically fail.
Re-entries: Use PB triangles to identify potential continuation points within an existing trend.
Risk Monitoring: Use Yellow bars (Proximity) to monitor price action near the invalidation level.
Disclaimer This script is intended for technical analysis and educational purposes only. It provides a visual representation of market trends based on historical data and does not guarantee future performance.
Nexus Momentum Flow [JOAT]
Nexus Momentum Flow - ADX-Based Trend Strength Analysis
Introduction and Purpose
Nexus Momentum Flow is an open-source oscillator indicator that combines the ADX (Average Directional Index) with directional movement indicators (+DI/-DI) to create a comprehensive trend strength and direction analysis tool. The core problem this indicator solves is that ADX alone tells you trend strength but not direction, while +DI/-DI alone tells you direction but not strength. Traders need both pieces of information together.
This indicator addresses that by combining ADX strength classification with directional bias into a single confluence score, making it easy to identify when strong trends exist and which direction they favor.
Why These Components Work Together
1. ADX (Average Directional Index) - Measures trend strength regardless of direction. Values above 25 indicate trending; below 20 indicate ranging.
2. +DI (Positive Directional Indicator) - Measures upward price movement strength.
3. -DI (Negative Directional Indicator) - Measures downward price movement strength.
4. Confluence Score - Combines ADX strength with DI bias to create a single actionable metric.
The combination works because:
ADX filters out ranging markets where DI crossovers produce whipsaws
DI relationship provides direction when ADX confirms trend
Confluence score simplifies the analysis into one number
How the Calculation Works
float directionBias = diPlus - diMinus
float confluenceScore = (adx / 100) * directionBias
The confluence score is positive when +DI > -DI (bullish) and negative when -DI > +DI (bearish), with magnitude scaled by ADX strength.
Trend State Classification
EXTREME - ADX > 50 (very strong trend)
STRONG - ADX 35-50 (strong trend)
TRENDING - ADX 25-35 (moderate trend)
RANGING - ADX < 25 (no clear trend)
Dashboard Information
Status - Current trend state (EXTREME/STRONG/TRENDING/RANGING)
Direction - BULLISH or BEARISH based on DI relationship
ADX - Current ADX value
DI Bias - Difference between +DI and -DI
Confluence - Combined score with directional context
How to Use This Indicator
For Trend Following:
1. Wait for ADX to show TRENDING or higher
2. Check direction matches your trade bias
3. Enter on pullbacks when confluence remains positive/negative
4. Exit when ADX drops to RANGING
For Avoiding Whipsaws:
1. Do not trade DI crossovers when ADX shows RANGING
2. Only trust directional signals when ADX confirms trend
3. Use RANGING periods for mean-reversion strategies instead
For Trend Exhaustion:
1. Watch for EXTREME ADX readings
2. Extreme trends often precede reversals
3. Consider taking profits when ADX reaches extreme levels
Input Parameters
ADX Length (14) - Period for ADX calculation
DI Length (14) - Period for directional indicators
ADX Smoothing (14) - Smoothing period for ADX
Trend Threshold (25) - ADX level for trend confirmation
Strong Threshold (35) - ADX level for strong trend
Extreme Threshold (50) - ADX level for extreme trend
Timeframe Recommendations
Daily/4H: Best for swing trading trend analysis
1H: Good for intraday trend following
15m: More signals but requires faster reaction
Limitations
ADX is a lagging indicator - trends are confirmed after they start
DI crossovers can whipsaw even with ADX filter
Works best in markets that trend clearly
May miss early trend entries due to confirmation requirement
Open-Source and Disclaimer
This script is published as open-source under the Mozilla Public License 2.0 for educational purposes.
This indicator does not constitute financial advice. Trend analysis does not guarantee profitable trades. Always use proper risk management.
- Made with passion by officialjackofalltrades
FibPulse144 [CHE] FibPulse144 — ADX-gated 13/21 crossover with 144-trend regime and closed-bar labels
Summary
FibPulse144 combines a fast moving-average crossover with a 144-period trend regime and an ADX strength gate. Signals are confirmed on closed bars only and drawn as labels on the price chart, while an ADX line in a separate pane provides context. Color gradients are derived from normalized ADX, so visual intensity reflects trend strength without changing the underlying logic. The approach reduces false flips during weak conditions and keeps entries aligned with the dominant trend.
Motivation: Why this design?
Traditional crossover signals can flip repeatedly during sideways phases and often trigger against the higher-time regime. By requiring alignment with a slower trend proxy and by gating entries through a rising ADX condition, FibPulse144 favors structurally cleaner transitions. Gradient coloring communicates strength visually, helping users temper aggressiveness without additional indicators.
What’s different vs. standard approaches?
Baseline: Classic dual-MA crossover with unconditional signals.
Architecture differences:
Two-bar regime confirmation against a 144-period trend average.
Pending-signal logic that waits for regime and optional ADX approval.
ADX strength gate using the prior reading relative to a user threshold and earlier value.
Gradient colors scaled by an ADX window with gamma controls.
Price-chart labels enforced via overlay on an otherwise pane-based indicator.
Practical effect: Fewer signals during weak or choppy conditions, labels that appear only after a bar closes, and color intensity that mirrors trend quality.
How it works (technical)
The script computes fast and slow moving averages using the selected method and lengths. A separate 144-length average defines the regime using a two-bar confirmation above or below it. Crossovers are observed on the previous bar to avoid intrabar ambiguity; once a prior crossover is detected, it is stored as pending. A pending long requires regime alignment and, if enabled, an ADX condition based on the previous reading being above the threshold and greater than an earlier reading. The state machine holds neutral, long, or short until an exit condition or ADX reset is met. ADX is normalized within a user window, scaled with gamma, and mapped to up and down color palettes to render gradients. Labels on the price panel are forced to overlay, while the ADX line and threshold guide remain in a separate pane.
Parameter Guide
Source — Input data for all calculations. Default: close. Tip: keep consistent with your chart.
MA Type — EMA or SMA. Default: EMA. EMA reacts faster; SMA is smoother.
Fast / Slow — Fast and slow lengths for crossover. Defaults: 13 and 21. Shorter reacts earlier; longer reduces noise.
Trend — Regime average length. Default: 144. Larger values stabilize regime; smaller values increase sensitivity.
Use 144 as trend filter — Enables regime gating. Default: true. Disable to allow raw crossovers.
Use ADX filter — Requires ADX strength. Default: true. Disable to allow signals regardless of strength.
ADX Len — DI and ADX smoothing length. Default: 14. Higher values smooth strength; lower values react faster.
ADX Thresh — Minimum strength for signals. Default: 25. Raise to reduce flips; lower to capture earlier moves.
Entry/Exit labels (price) — Price-panel labels on state changes. Default: true.
Signal labels in ADX pane — Small markers at the ADX value on entries. Default: true.
Label size — tiny, small, normal, large. Default: normal.
Enable barcolor — Optional candle tint by regime and gradient. Default: false.
Enable gradient — Turns on ADX-driven color blending. Default: true.
Window — Bars used to normalize ADX for colors. Default: 100; minimum: 5.
Gamma bars / Gamma plots — Nonlinear scaling for bar and line intensities. Default: 0.80; between 0.30 and 2.00.
Gradient transp (0–90) — Transparency for gradient colors. Default: 0.
MA fill transparency (0–100) — Fill opacity between fast and slow lines. Default: 65.
Palette colors (Up/Down) — Dark and neon endpoints for up and down gradients. Defaults as in the code.
Reading & Interpretation
Fast/Slow lines: When the fast line is above the slow line, the line and fill use the long palette; when below, the short palette is used.
Trend MA (144): Neutral gray line indicating the regime boundary.
Labels on price: “LONG” appears when the state turns long; “SHORT” when it turns short. Labels appear only after the bar closes and conditions are satisfied.
ADX pane: The ADX line shows current strength. The dotted threshold line is the user level for gating. Optional small markers indicate entries at the ADX value.
Bar colors (optional): Candle tint intensity reflects normalized ADX. Higher intensity implies stronger conditions.
Practical Workflows & Combinations
Trend following: Use long entries when fast crosses above slow and price has held above the trend average for two bars, with ADX above threshold. Mirror this for shorts below the trend average.
Exits and stops: Consider reducing exposure when price closes on the opposite side of the trend average for two consecutive bars or when ADX fades below the threshold if the ADX filter is enabled.
Structure confirmation: Combine with higher-timeframe structure such as swing highs and lows or a simple market structure overlay for confirmation.
Multi-asset/Multi-TF: Works across liquid assets. For lower timeframes, consider a slightly lower ADX threshold; for higher timeframes, maintain or raise the threshold to avoid unnecessary flips.
Behavior, Constraints & Performance
Repaint/confirmation: Signals are based on previous-bar crossovers and are confirmed on bar close. No higher-timeframe or security calls are used. Intrabar markers are not relied upon.
Resources: The script declares `max_bars_back` of 2000, uses no loops or arrays, and employs persistent variables for pending signals and state.
Known limits: Crossover systems can lag after sudden reversals. During tight ranges, disabling the ADX filter may increase flips; keeping it enabled may skip early transitions.
Sensible Defaults & Quick Tuning
Starting point: EMA, 13/21/144, ADX length 14, ADX threshold 25, gradients on, barcolor off.
Too many flips: Increase ADX threshold or length; increase trend length; consider SMA instead of EMA.
Too sluggish: Lower ADX threshold slightly; shorten fast and slow lengths; reduce the trend length.
Colors overpowering: Increase gradient transparency or reduce gamma values toward one.
What this indicator is—and isn’t
This is a visualization and signal layer that combines crossover, regime, and strength gating. It does not predict future movements, manage risk, or execute trades. Use it alongside clear structure, risk controls, and a defined position management plan.
Disclaimer
The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context.
Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved.
By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk.
Do not use this indicator on Heikin-Ashi, Renko, Kagi, Point-and-Figure, or Range charts, as these chart types can produce unrealistic results for signal markers and alerts.
Best regards and happy trading
Chervolino
Trend Gauge [BullByte]Trend Gauge
Summary
A multi-factor trend detection indicator that aggregates EMA alignment, VWMA momentum scaling, volume spikes, ATR breakout strength, higher-timeframe confirmation, ADX-based regime filtering, and RSI pivot-divergence penalty into one normalized trend score. It also provides a confidence meter, a Δ Score momentum histogram, divergence highlights, and a compact, scalable dashboard for at-a-glance status.
________________________________________
## 1. Purpose of the Indicator
Why this was built
Traders often monitor several indicators in parallel - EMAs, volume signals, volatility breakouts, higher-timeframe trends, ADX readings, divergence alerts, etc., which can be cumbersome and sometimes contradictory. The “Trend Gauge” indicator was created to consolidate these complementary checks into a single, normalized score that reflects the prevailing market bias (bullish, bearish, or neutral) and its strength. By combining multiple inputs with an adaptive regime filter, scaling contributions by magnitude, and penalizing weakening signals (divergence), this tool aims to reduce noise, highlight genuine trend opportunities, and warn when momentum fades.
Key Design Goals
Signal Aggregation
Merged trend-following signals (EMA crossover, ATR breakout, higher-timeframe confirmation) and momentum signals (VWMA thrust, volume spikes) into a unified score that reflects directional bias more holistically.
Market Regime Awareness
Implemented an ADX-style filter to distinguish between trending and ranging markets, reducing the influence of trend signals during sideways phases to avoid false breakouts.
Magnitude-Based Scaling
Replaced binary contributions with scaled inputs: VWMA thrust and ATR breakout are weighted relative to recent averages, allowing for more nuanced score adjustments based on signal strength.
Momentum Divergence Penalty
Integrated pivot-based RSI divergence detection to slightly reduce the overall score when early signs of momentum weakening are detected, improving risk-awareness in entries.
Confidence Transparency
Added a live confidence metric that shows what percentage of enabled sub-indicators currently agree with the overall bias, making the scoring system more interpretable.
Momentum Acceleration Visualization
Plotted the change in score (Δ Score) as a histogram bar-to-bar, highlighting whether momentum is increasing, flattening, or reversing, aiding in more timely decision-making.
Compact Informational Dashboard
Presented a clean, scalable dashboard that displays each component’s status, the final score, confidence %, detected regime (Trending/Ranging), and a labeled strength gauge for quick visual assessment.
________________________________________
## 2. Why a Trader Should Use It
Main benefits and use cases
1. Unified View: Rather than juggling multiple windows or panels, this indicator delivers a single score synthesizing diverse signals.
2. Regime Filtering: In ranging markets, trend signals often generate false entries. The ADX-based regime filter automatically down-weights trend-following components, helping you avoid chasing false breakouts.
3. Nuanced Momentum & Volatility: VWMA and ATR breakout contributions are normalized by recent averages, so strong moves register strongly while smaller fluctuations are de-emphasized.
4. Early Warning of Weakening: Pivot-based RSI divergence is detected and used to slightly reduce the score when price/momentum diverges, giving a cautionary signal before a full reversal.
5. Confidence Meter: See at a glance how many sub-indicators align with the aggregated bias (e.g., “80% confidence” means 4 out of 5 components agree ). This transparency avoids black-box decisions.
6. Trend Acceleration/Deceleration View: The Δ Score histogram visualizes whether the aggregated score is rising (accelerating trend) or falling (momentum fading), supplementing the main oscillator.
7. Compact Dashboard: A corner table lists each check’s status (“Bull”, “Bear”, “Flat” or “Disabled”), plus overall Score, Confidence %, Regime, Trend Strength label, and a gauge bar. Users can scale text size (Normal, Small, Tiny) without removing elements, so the full picture remains visible even in compact layouts.
8. Customizable & Transparent: All components can be enabled/disabled and parameterized (lengths, thresholds, weights). The full Pine code is open and well-commented, letting users inspect or adapt the logic.
9. Alert-ready: Built-in alert conditions fire when the score crosses weak thresholds to bullish/bearish or returns to neutral, enabling timely notifications.
________________________________________
## 3. Component Rationale (“Why These Specific Indicators?”)
Each sub-component was chosen because it adds complementary information about trend or momentum:
1. EMA Cross
o Basic trend measure: compares a faster EMA vs. a slower EMA. Quickly reflects trend shifts but by itself can whipsaw in sideways markets.
2. VWMA Momentum
o Volume-weighted moving average change indicates momentum with volume context. By normalizing (dividing by a recent average absolute change), we capture the strength of momentum relative to recent history. This scaling prevents tiny moves from dominating and highlights genuinely strong momentum.
3. Volume Spikes
o Sudden jumps in volume combined with price movement often accompany stronger moves or reversals. A binary detection (+1 for bullish spike, -1 for bearish spike) flags high-conviction bars.
4. ATR Breakout
o Detects price breaking beyond recent highs/lows by a multiple of ATR. Measures breakout strength by how far beyond the threshold price moves relative to ATR, capped to avoid extreme outliers. This gives a volatility-contextual trend signal.
5. Higher-Timeframe EMA Alignment
o Confirms whether the shorter-term trend aligns with a higher timeframe trend. Uses request.security with lookahead_off to avoid future data. When multiple timeframes agree, confidence in direction increases.
6. ADX Regime Filter (Manual Calculation)
o Computes directional movement (+DM/–DM), smoothes via RMA, computes DI+ and DI–, then a DX and ADX-like value. If ADX ≥ threshold, market is “Trending” and trend components carry full weight; if ADX < threshold, “Ranging” mode applies a configurable weight multiplier (e.g., 0.5) to trend-based contributions, reducing false signals in sideways conditions. Volume spikes remain binary (optional behavior; can be adjusted if desired).
7. RSI Pivot-Divergence Penalty
o Uses ta.pivothigh / ta.pivotlow with a lookback to detect pivot highs/lows on price and corresponding RSI values. When price makes a higher high but RSI makes a lower high (bearish divergence), or price makes a lower low but RSI makes a higher low (bullish divergence), a divergence signal is set. Rather than flipping the trend outright, the indicator subtracts (or adds) a small penalty (configurable) from the aggregated score if it would weaken the current bias. This subtle adjustment warns of weakening momentum without overreacting to noise.
8. Confidence Meter
o Counts how many enabled components currently agree in direction with the aggregated score (i.e., component sign × score sign > 0). Displays this as a percentage. A high percentage indicates strong corroboration; a low percentage warns of mixed signals.
9. Δ Score Momentum View
o Plots the bar-to-bar change in the aggregated score (delta_score = score - score ) as a histogram. When positive, bars are drawn in green above zero; when negative, bars are drawn in red below zero. This reveals acceleration (rising Δ) or deceleration (falling Δ), supplementing the main oscillator.
10. Dashboard
• A table in the indicator pane’s top-right with 11 rows:
1. EMA Cross status
2. VWMA Momentum status
3. Volume Spike status
4. ATR Breakout status
5. Higher-Timeframe Trend status
6. Score (numeric)
7. Confidence %
8. Regime (“Trending” or “Ranging”)
9. Trend Strength label (e.g., “Weak Bullish Trend”, “Strong Bearish Trend”)
10. Gauge bar visually representing score magnitude
• All rows always present; size_opt (Normal, Small, Tiny) only changes text size via text_size, not which elements appear. This ensures full transparency.
________________________________________
## 4. What Makes This Indicator Stand Out
• Regime-Weighted Multi-Factor Score: Trend and momentum signals are adaptively weighted by market regime (trending vs. ranging) , reducing false signals.
• Magnitude Scaling: VWMA and ATR breakout contributions are normalized by recent average momentum or ATR, giving finer gradation compared to simple ±1.
• Integrated Divergence Penalty: Divergence directly adjusts the aggregated score rather than appearing as a separate subplot; this influences alerts and trend labeling in real time.
• Confidence Meter: Shows the percentage of sub-signals in agreement, providing transparency and preventing blind trust in a single metric.
• Δ Score Histogram Momentum View: A histogram highlights acceleration or deceleration of the aggregated trend score, helping detect shifts early.
• Flexible Dashboard: Always-visible component statuses and summary metrics in one place; text size scaling keeps the full picture available in cramped layouts.
• Lookahead-Safe HTF Confirmation: Uses lookahead_off so no future data is accessed from higher timeframes, avoiding repaint bias.
• Repaint Transparency: Divergence detection uses pivot functions that inherently confirm only after lookback bars; description documents this lag so users understand how and when divergence labels appear.
• Open-Source & Educational: Full, well-commented Pine v6 code is provided; users can learn from its structure: manual ADX computation, conditional plotting with series = show ? value : na, efficient use of table.new in barstate.islast, and grouped inputs with tooltips.
• Compliance-Conscious: All plots have descriptive titles; inputs use clear names; no unnamed generic “Plot” entries; manual ADX uses RMA; all request.security calls use lookahead_off. Code comments mention repaint behavior and limitations.
________________________________________
## 5. Recommended Timeframes & Tuning
• Any Timeframe: The indicator works on small (e.g., 1m) to large (daily, weekly) timeframes. However:
o On very low timeframes (<1m or tick charts), noise may produce frequent whipsaws. Consider increasing smoothing lengths, disabling certain components (e.g., volume spike if volume data noisy), or using a larger pivot lookback for divergence.
o On higher timeframes (daily, weekly), consider longer lookbacks for ATR breakout or divergence, and set Higher-Timeframe trend appropriately (e.g., 4H HTF when on 5 Min chart).
• Defaults & Experimentation: Default input values are chosen to be balanced for many liquid markets. Users should test with replay or historical analysis on their symbol/timeframe and adjust:
o ADX threshold (e.g., 20–30) based on instrument volatility.
o VWMA and ATR scaling lengths to match average volatility cycles.
o Pivot lookback for divergence: shorter for faster markets, longer for slower ones.
• Combining with Other Analysis: Use in conjunction with price action, support/resistance, candlestick patterns, order flow, or other tools as desired. The aggregated score and alerts can guide attention but should not be the sole decision-factor.
________________________________________
## 6. How Scoring and Logic Works (Step-by-Step)
1. Compute Sub-Scores
o EMA Cross: Evaluate fast EMA > slow EMA ? +1 : fast EMA < slow EMA ? -1 : 0.
o VWMA Momentum: Calculate vwma = ta.vwma(close, length), then vwma_mom = vwma - vwma . Normalize: divide by recent average absolute momentum (e.g., ta.sma(abs(vwma_mom), lookback)), clip to .
o Volume Spike: Compute vol_SMA = ta.sma(volume, len). If volume > vol_SMA * multiplier AND price moved up ≥ threshold%, assign +1; if moved down ≥ threshold%, assign -1; else 0.
o ATR Breakout: Determine recent high/low over lookback. If close > high + ATR*mult, compute distance = close - (high + ATR*mult), normalize by ATR, cap at a configured maximum. Assign positive contribution. Similarly for bearish breakout below low.
o Higher-Timeframe Trend: Use request.security(..., lookahead=barmerge.lookahead_off) to fetch HTF EMAs; assign +1 or -1 based on alignment.
2. ADX Regime Weighting
o Compute manual ADX: directional movements (+DM, –DM), smoothed via RMA, DI+ and DI–, then DX and ADX via RMA. If ADX ≥ threshold, market is considered “Trending”; otherwise “Ranging.”
o If trending, trend-based contributions (EMA, VWMA, ATR, HTF) use full weight = 1.0. If ranging, use weight = ranging_weight (e.g., 0.5) to down-weight them. Volume spike stays binary ±1 (optional to change if desired).
3. Aggregate Raw Score
o Sum weighted contributions of all enabled components. Count the number of enabled components; if zero, default count = 1 to avoid division by zero.
4. Divergence Penalty
o Detect pivot highs/lows on price and corresponding RSI values, using a lookback. When price and RSI diverge (bearish or bullish divergence), check if current raw score is in the opposing direction:
If bearish divergence (price higher high, RSI lower high) and raw score currently positive, subtract a penalty (e.g., 0.5).
If bullish divergence (price lower low, RSI higher low) and raw score currently negative, add a penalty.
o This reduces score magnitude to reflect weakening momentum, without flipping the trend outright.
5. Normalize and Smooth
o Normalized score = (raw_score / number_of_enabled_components) * 100. This yields a roughly range.
o Optional EMA smoothing of this normalized score to reduce noise.
6. Interpretation
o Sign: >0 = net bullish bias; <0 = net bearish bias; near zero = neutral.
o Magnitude Zones: Compare |score| to thresholds (Weak, Medium, Strong) to label trend strength (e.g., “Weak Bullish Trend”, “Medium Bearish Trend”, “Strong Bullish Trend”).
o Δ Score Histogram: The histogram bars from zero show change from previous bar’s score; positive bars indicate acceleration, negative bars indicate deceleration.
o Confidence: Percentage of sub-indicators aligned with the score’s sign.
o Regime: Indicates whether trend-based signals are fully weighted or down-weighted.
________________________________________
## 7. Oscillator Plot & Visualization: How to Read It
Main Score Line & Area
The oscillator plots the aggregated score as a line, with colored fill: green above zero for bullish area, red below zero for bearish area. Horizontal reference lines at ±Weak, ±Medium, and ±Strong thresholds mark zones: crossing above +Weak suggests beginning of bullish bias, above +Medium for moderate strength, above +Strong for strong trend; similarly for bearish below negative thresholds.
Δ Score Histogram
If enabled, a histogram shows score - score . When positive, bars appear in green above zero, indicating accelerating bullish momentum; when negative, bars appear in red below zero, indicating decelerating or reversing momentum. The height of each bar reflects the magnitude of change in the aggregated score from the prior bar.
Divergence Highlight Fill
If enabled, when a pivot-based divergence is confirmed:
• Bullish Divergence : fill the area below zero down to –Weak threshold in green, signaling potential reversal from bearish to bullish.
• Bearish Divergence : fill the area above zero up to +Weak threshold in red, signaling potential reversal from bullish to bearish.
These fills appear with a lag equal to pivot lookback (the number of bars needed to confirm the pivot). They do not repaint after confirmation, but users must understand this lag.
Trend Direction Label
When score crosses above or below the Weak threshold, a small label appears near the score line reading “Bullish” or “Bearish.” If the score returns within ±Weak, the label “Neutral” appears. This helps quickly identify shifts at the moment they occur.
Dashboard Panel
In the indicator pane’s top-right, a table shows:
1. EMA Cross status: “Bull”, “Bear”, “Flat”, or “Disabled”
2. VWMA Momentum status: similarly
3. Volume Spike status: “Bull”, “Bear”, “No”, or “Disabled”
4. ATR Breakout status: “Bull”, “Bear”, “No”, or “Disabled”
5. Higher-Timeframe Trend status: “Bull”, “Bear”, “Flat”, or “Disabled”
6. Score: numeric value (rounded)
7. Confidence: e.g., “80%” (colored: green for high, amber for medium, red for low)
8. Regime: “Trending” or “Ranging” (colored accordingly)
9. Trend Strength: textual label based on magnitude (e.g., “Medium Bullish Trend”)
10. Gauge: a bar of blocks representing |score|/100
All rows remain visible at all times; changing Dashboard Size only scales text size (Normal, Small, Tiny).
________________________________________
## 8. Example Usage (Illustrative Scenario)
Example: BTCUSD 5 Min
1. Setup: Add “Trend Gauge ” to your BTCUSD 5 Min chart. Defaults: EMAs (8/21), VWMA 14 with lookback 3, volume spike settings, ATR breakout 14/5, HTF = 5m (or adjust to 4H if preferred), ADX threshold 25, ranging weight 0.5, divergence RSI length 14 pivot lookback 5, penalty 0.5, smoothing length 3, thresholds Weak=20, Medium=50, Strong=80. Dashboard Size = Small.
2. Trend Onset: At some point, price breaks above recent high by ATR multiple, volume spikes upward, faster EMA crosses above slower EMA, HTF EMA also bullish, and ADX (manual) ≥ threshold → aggregated score rises above +20 (Weak threshold) into +Medium zone. Dashboard shows “Bull” for EMA, VWMA, Vol Spike, ATR, HTF; Score ~+60–+70; Confidence ~100%; Regime “Trending”; Trend Strength “Medium Bullish Trend”; Gauge ~6–7 blocks. Δ Score histogram bars are green and rising, indicating accelerating bullish momentum. Trader notes the alignment.
3. Divergence Warning: Later, price makes a slightly higher high but RSI fails to confirm (lower RSI high). Pivot lookback completes; the indicator highlights a bearish divergence fill above zero and subtracts a small penalty from the score, causing score to stall or retrace slightly. Dashboard still bullish but score dips toward +Weak. This warns the trader to tighten stops or take partial profits.
4. Trend Weakens: Score eventually crosses below +Weak back into neutral; a “Neutral” label appears, and a “Neutral Trend” alert fires if enabled. Trader exits or avoids new long entries. If score subsequently crosses below –Weak, a “Bearish” label and alert occur.
5. Customization: If the trader finds VWMA noise too frequent on this instrument, they may disable VWMA or increase lookback. If ATR breakouts are too rare, adjust ATR length or multiplier. If ADX threshold seems off, tune threshold. All these adjustments are explained in Inputs section.
6. Visualization: The screenshot shows the main score oscillator with colored areas, reference lines at ±20/50/80, Δ Score histogram bars below/above zero, divergence fill highlighting potential reversal, and the dashboard table in the top-right.
________________________________________
## 9. Inputs Explanation
A concise yet clear summary of inputs helps users understand and adjust:
1. General Settings
• Theme (Dark/Light): Choose background-appropriate colors for the indicator pane.
• Dashboard Size (Normal/Small/Tiny): Scales text size only; all dashboard elements remain visible.
2. Indicator Settings
• Enable EMA Cross: Toggle on/off basic EMA alignment check.
o Fast EMA Length and Slow EMA Length: Periods for EMAs.
• Enable VWMA Momentum: Toggle VWMA momentum check.
o VWMA Length: Period for VWMA.
o VWMA Momentum Lookback: Bars to compare VWMA to measure momentum.
• Enable Volume Spike: Toggle volume spike detection.
o Volume SMA Length: Period to compute average volume.
o Volume Spike Multiplier: How many times above average volume qualifies as spike.
o Min Price Move (%): Minimum percent change in price during spike to qualify as bullish or bearish.
• Enable ATR Breakout: Toggle ATR breakout detection.
o ATR Length: Period for ATR.
o Breakout Lookback: Bars to look back for recent highs/lows.
o ATR Multiplier: Multiplier for breakout threshold.
• Enable Higher Timeframe Trend: Toggle HTF EMA alignment.
o Higher Timeframe: E.g., “5” for 5-minute when on 1-minute chart, or “60” for 5 Min when on 15m, etc. Uses lookahead_off.
• Enable ADX Regime Filter: Toggles regime-based weighting.
o ADX Length: Period for manual ADX calculation.
o ADX Threshold: Value above which market considered trending.
o Ranging Weight Multiplier: Weight applied to trend components when ADX < threshold (e.g., 0.5).
• Scale VWMA Momentum: Toggle normalization of VWMA momentum magnitude.
o VWMA Mom Scale Lookback: Period for average absolute VWMA momentum.
• Scale ATR Breakout Strength: Toggle normalization of breakout distance by ATR.
o ATR Scale Cap: Maximum multiple of ATR used for breakout strength.
• Enable Price-RSI Divergence: Toggle divergence detection.
o RSI Length for Divergence: Period for RSI.
o Pivot Lookback for Divergence: Bars on each side to identify pivot high/low.
o Divergence Penalty: Amount to subtract/add to score when divergence detected (e.g., 0.5).
3. Score Settings
• Smooth Score: Toggle EMA smoothing of normalized score.
• Score Smoothing Length: Period for smoothing EMA.
• Weak Threshold: Absolute score value under which trend is considered weak or neutral.
• Medium Threshold: Score above Weak but below Medium is moderate.
• Strong Threshold: Score above this indicates strong trend.
4. Visualization Settings
• Show Δ Score Histogram: Toggle display of the bar-to-bar change in score as a histogram. Default true.
• Show Divergence Fill: Toggle background fill highlighting confirmed divergences. Default true.
Each input has a tooltip in the code.
________________________________________
## 10. Limitations, Repaint Notes, and Disclaimers
10.1. Repaint & Lag Considerations
• Pivot-Based Divergence Lag: The divergence detection uses ta.pivothigh / ta.pivotlow with a specified lookback. By design, a pivot is only confirmed after the lookback number of bars. As a result:
o Divergence labels or fills appear with a delay equal to the pivot lookback.
o Once the pivot is confirmed and the divergence is detected, the fill/label does not repaint thereafter, but you must understand and accept this lag.
o Users should not treat divergence highlights as predictive signals without additional confirmation, because they appear after the pivot has fully formed.
• Higher-Timeframe EMA Alignment: Uses request.security(..., lookahead=barmerge.lookahead_off), so no future data from the higher timeframe is used. This avoids lookahead bias and ensures signals are based only on completed higher-timeframe bars.
• No Future Data: All calculations are designed to avoid using future information. For example, manual ADX uses RMA on past data; security calls use lookahead_off.
10.2. Market & Noise Considerations
• In very choppy or low-liquidity markets, some components (e.g., volume spikes or VWMA momentum) may be noisy. Users can disable or adjust those components’ parameters.
• On extremely low timeframes, noise may dominate; consider smoothing lengths or disabling certain features.
• On very high timeframes, pivots and breakouts occur less frequently; adjust lookbacks accordingly to avoid sparse signals.
10.3. Not a Standalone Trading System
• This is an indicator, not a complete trading strategy. It provides signals and context but does not manage entries, exits, position sizing, or risk management.
• Users must combine it with their own analysis, money management, and confirmations (e.g., price patterns, support/resistance, fundamental context).
• No guarantees: past behavior does not guarantee future performance.
10.4. Disclaimers
• Educational Purposes Only: The script is provided as-is for educational and informational purposes. It does not constitute financial, investment, or trading advice.
• Use at Your Own Risk: Trading involves risk of loss. Users should thoroughly test and use proper risk management.
• No Guarantees: The author is not responsible for trading outcomes based on this indicator.
• License: Published under Mozilla Public License 2.0; code is open for viewing and modification under MPL terms.
________________________________________
## 11. Alerts
• The indicator defines three alert conditions:
1. Bullish Trend: when the aggregated score crosses above the Weak threshold.
2. Bearish Trend: when the score crosses below the negative Weak threshold.
3. Neutral Trend: when the score returns within ±Weak after being outside.
Good luck
– BullByte
