Trading Range Finder

16 ก.ย. 2021

What is it?

This indicator is a visual representation of the ADX indicator that shows where the areas of weak trends are. Anything shaded in a gray background implicates that the chosen market is experiencing a weak trend.
These areas of weak trends are seen typically when ADX drops below 20-25 but this script is customizable to change where you want that threshold.

Why did I make it?

I made this indicator to be used in combination with other trading indicators to eventually be used to identify when a market is range-bound/sideways.
Since momentum-based indicators can be "thrown off" in sideways market conditions, I will be using this visual indicator to identify when it is best to filter out a trade signal in a momentum-based strategy.

27 พ.ย. 2021

เอกสารเผยแพร่

• Added the option to color the candlesticks so you don't have to look back and forth between the indicator and the chart