I've been playing with the idea of trying to trend bollinger band movement of various currencies. What I've got here is the result of that. In its very basic form its a tool to identify the start and end of both long and short term trends.
The thick line (red/green) indicates whether this is a bullish (green) or bearish (red) movement and generally governs the longer term trend. The thinner, black line indicates the movements within the market. Anything above the zero line indicates positive movement where trades could be placed (along with the main trend line). When this line moves below the zero line, it appears to highlight uncertainty and the potential trend coming to an end.
If anyone would like alerts adding to this indicator then please let me know.
Dear Friend, I like this script, it is very good working in Renko bars. Could you please add alerts for "BB Slope Median Line" color change? Thanks in advance for your kind helps.
I like this script, it is very good working in Renko bars.
Could you please add alerts for "BB Slope Median Line" color change?
Thanks in advance for your kind helps.