by 
This indicator calculates key support and resistance levels by analyzing the first and second momentum derivatives of a Double Exponential Moving Average (DEMA). When the second derivative (momentum of momentum) crosses zero, it identifies local turning points
Indicator · Pine Script v4 · On the chart
Market Trend
Market Trend is an overlay indicator that identifies market direction and key price levels.
GitHub stars12on the repository
Pine versionv4older, still runs
Lines of code175
Settings7inputs
LicenceNone stated
Last update3 years ago17 Mar 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
Market Trend calculates a Relative Strength Index with Bollinger Bands to construct a 20-step color gradient reflecting momentum shifts. The script incorporates exponential moving averages to evaluate short and medium-term trend direction. Pivot high and low calculations identify support and resistance zones on the chart. Inputs allow traders to adjust RSI parameters, customize pivot lookback lengths for swing detection, invert color schemes, and toggle visual elements such as trend arrows.
- RSI Bollinger Bands color gradient
- Support and resistance pivot detection
- Exponential moving average trend analysis
- Configurable pivot lookback inputs
Details
Published by
azamiftikhar1000 on GitHub
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Trend, Oscillators & momentum, Support & resistance
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.
File
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Show Trend Arrows at Top and Bottom of Screen? | bool | true | show_trend |
| rsiLen for color gradient | int | 50 | rsiLen |
| Show Supports & Resistances | bool | true | showSR |
| Left Pivot | int | 50 | left |
| Right Pivot | int | 25 | right |
| Quick Right Pivot | int | 5 | quick_right |
| Invert Colors | bool | false | colFlip |
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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