Script tries to capture the length of trends. It calculates an SMA and then determines the slope of the SMA using a simple momentum function. From there it counts bars from when the slope changed directions last. The lime green line is the count from when the slope changed. The yellow line is the average time of a trend. The white line is "trying" to capture the...
This script was inspired by @ChartArt.
GREEN = UPTREND
RED = DOWNTREND
TREND IS DETERMINED BY IF THE CLOSE IS BELOW OR ABOVE THE SMA SET (DEFAULT 20)
It has the trend of the following time-frames:
The script combines 3 single Bollinger bands into one script for easy plotting and range modification. It can be used for analyzing a market with multiple time frames and ranges using Fibonacci series as the range.
I was asked to share my experimental Renko intraday wave time. So here it is warts and all. The same for the rest - except the Weis cumulative volume.
Renko wave time is in minutes. This script is strictly intraday and has not been played with extensively.
You must use traditional Renko and set the script wave size to the same size as the Renko brick size.
At it again. This time I've added to the custom time frame indicator an inversion capability. This way you can look at the inverse price of custom time frames, again without having to go pro!
I use it too look at downtrends with the same bias as I do uptrends. Unfortunately usually to look at the inverse on timeframes anything other than the 1D chart you need a...
EXPERIMENTAL: this script can be used as a trend follower if bgcolor is active, it can be used to catch extremes and target levels for a pull back to the mean, can be used as support and resistance with the time period open price and extreme. other uses, improvements let me know :p.
Feel free to use this Multi Time Frame RSI indicator.
You can select up to 4 time frames.
You can plot either each of them or the average of all 4 or the faster 3.
Enjoy. Please leave a like if it is useful to you.
study("Forex Sessions", shorttitle="SessionsFX", overlay=true)
t1 = time(period, "0700-1600")
t2 = time(period, "0200-1100")
t3 = time(period, "1800-0300")
t4 = time(period, "1600-0100")
NewYork = na(t1) ? na : green
London = na(t2) ? na : red
Tokyo = na(t3) ? na : blue
Sydney = na(t4) ? na : aqua
//white silver gray maroon red purple fuchsia...