This indicator is used to filter out the "poor fit" trades in your strategy.
If you have a trend following or mean reverting strategy, you'll definitely want a filter indicator that tells you what the market state is!
Easy to interpret:
I'm already using this indicator with a Trend following strategy on Forex pairs to avoid potentially bad trades.
So far, so good.
Link to the open-source indicator:
If you have a trend following or mean reverting strategy, you'll definitely want a filter indicator that tells you what the market state is!
Easy to interpret:
- Yellow is Sideways (or reverting)
- Blue is trending
- Solid colors are more confident than faded colors
I'm already using this indicator with a Trend following strategy on Forex pairs to avoid potentially bad trades.
So far, so good.
Link to the open-source indicator:
Need Indicators/Strategies for TradingView? -> t.me/pinescripters_jobs
General questions about Pinescript? -> t.me/pinescripters
General questions about Pinescript? -> t.me/pinescripters