The Adaptive Laguerre Filter calculates a smoothed, dynamically adjusted trendline plotted directly on the main price chart. It dynamically adjusts its damping factor (alpha) based on recent price range variations and median percentile calculations over a spec
Indicator · Pine Script v5 · On the chart
ADW - Colour Trend
ADW - Colour Trend is an overlay indicator that normalizes the bar high and low against the highest high and lowest low over a chosen length, then averages those values.
GitHub stars5on the repository
Pine versionv5runs as is
Lines of code52
Settings2inputs
LicenceCustom licence
Last update3 years ago29 May 2023
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
ADW - Colour Trend paints price bars green when the average is above minus forty, red when it is below minus sixty, and silver in between. Alerts fire when the bar colour changes to bullish, bearish, or neutral. The length input sets the lookback, and a toggle can hide the bar colours. Cycle counters are updated internally but are not plotted.
- Range-normalized high and low
- Green, red and silver bar colours
- Bull, bear and no-trend alerts
- Adjustable lookback length
- Optional bar colour display
Details
Published by
ADWilkinson on GitHub
Code credit
Andrew Wilkinson, as written in the script's header
Type
Draws
On the price chart
Category
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Topics
pinescripttradingviewopen-sourcepinescript-indicators
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| length | int | 12 | length |
| show_barcolor | bool | true | show_barcolor |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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