OPEN-SOURCE SCRIPT
Draw Trend Lines
Sometimes the simplest indicators help traders make better decisions. This indicator draws simple trend lines, the same lines you would draw manually.
To trade with an edge, traders need to interpret the recent price action, whether it's noisy or choppy, or it's trending. Trend Lines will help traders with that interpretation.
The lines drawn are:
1. lower tops
2. higher bottoms
Because trends are defined as higher lows, or lower highs.
When you see "Wedges", formed by prices chopping between top and bottom trend lines, that's noisy environment not to be traded. When you learn to "stop yourself", you already have an edge.
Often when you see a trend, it's still not too late. Trend will continue until it doesn't. But the caveat is a very steep trend is unlikely to continue, because buying volume is extremely unbalanced to cause the steep trend, and that volume will run out of energy. (Same on the sell side of course)
Trends can reverse, and when price action breaks the trend line, Breakout/Breakdown traders can take this as an entry signal.
Enjoy, and good trading!
To trade with an edge, traders need to interpret the recent price action, whether it's noisy or choppy, or it's trending. Trend Lines will help traders with that interpretation.
The lines drawn are:
1. lower tops
2. higher bottoms
Because trends are defined as higher lows, or lower highs.
When you see "Wedges", formed by prices chopping between top and bottom trend lines, that's noisy environment not to be traded. When you learn to "stop yourself", you already have an edge.
Often when you see a trend, it's still not too late. Trend will continue until it doesn't. But the caveat is a very steep trend is unlikely to continue, because buying volume is extremely unbalanced to cause the steep trend, and that volume will run out of energy. (Same on the sell side of course)
Trends can reverse, and when price action breaks the trend line, Breakout/Breakdown traders can take this as an entry signal.
Enjoy, and good trading!
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.