Detect sideways markets (green background) vs. trending markets (red background) with this indicator. It makes use of the Bollinger bands % as its base.
RSI is a momentum indicator, however most people seem to be using it to go against the momentum by trying to identify tops/bottoms using it. Its in my opinion the wrong way to be using it. It can be easily used for trend following which seems like a better use for it. Uptrend - RSI > 60 Downtrend - RSI < 40 Sideways - RSI between 40 and 60 If however not...
A simple yet powerful way to filter out choppy ranges or sideways moves without missing out on good trades It calculates the %-distance of the price to a moving average so you can ignore buy/sell signals around the center line. The upper and lower line are thresholds to catch reversals of the trend when the distance to moving average is increasing. Thanks...
Based on code by oh92 and kiasaki. Measures volume to indicate Bull vs Bear. Go long when green, short when red, wait patiently when white.
Simple script for coloring inside bars to spot them easier (color can be adjusted)