In the advanced price direction algorithm situations of faltering price directions (fda) are identified. These are very interesting, because this happens at tops, flags and trend turns.
I got the idea of coloring the bars with fda in a distinguishing color, reddish gray for fda down and blueish gray for faltering up. The remaining bars retain standard color, but now this color 'confirms' the trend. To show that this is true, I also plot a simple moving average (sma) with the same length in the chart. It turns out that somehow the bars react to being above or below the sma, but also react to the direction of the sma. Very interesting.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. يمكنك جعله مفضلاً لاستخدامه على الرسم البياني.
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