This is the Trend Reversal System with Support/Resistance levels script. long time ago I published it as closed source but now I upgraded it and and published as open-source with a different name. I hope it would be useful for you all while trading/analyzing.
The script has some parts in it: Setup, Count, SR levels, Risk levels & Targets . Now lets...
TrendAlgo v2 is an indicator trying to predict the market trend.
The algorithm derives signals, trends, and strength based on the following:
- momentum is captured based on Bollinger and Keltner channel values
- strength of direction is captured using ADX (Average Directional Movement Index) and RSI Levels
- Algo checks for specific...