OPEN-SOURCE SCRIPT

Hindsight Trend

Güncellendi
Non-realtime but highly accurate trend analyzer with only one fundamental parameter (period aka "minimum trend length")

Basically Hindsight Trend is pivot points on steroids (handles many cases much better). Plus it shows the trend line.

Period

I usually like periods of 10, 20 or 30.

The indicator's delay is identical to the chosen period.

You can actually try a low period like 4 or 5 to get something resembling a realtime indicator.

Uptrends are based on candle lows, downtrends are based on candle highs. So it is possible to have an uptrend and a downtrend at the same time.

Triangles

At trend start, a triangle is drawn. (Trendline isn't always there if the trend didn't last that long.)

Triangle size shows how long the high or low that started the trend remained unbroken. E.g. with period 20: Small triangle = 20+ candles, medium triangle = 40+ candles, big triangle = 80+ candles. So a big triangle marks an important reversal point.

How Hindsight Trend works

Whenever a candle completes, its high and low are saved as potentially "notable" points. A high or low is the more notable the longer it stays unbroken (= not touched again by price).

Now we simply take the notable highs and lows (as in, staying unbroken at least for the user-selected period)... and connect them together - if they are close enough to each other (less than "period" candles away). And decorate the first point in each trend with a triangle.

We only know whether a point is notable after "period" more candles have printed, so that's where the indicator's delay comes from.

Finally we divide the period by 2 and look at highs and lows which are unbroken for that shorter time. While they are not fully "notable" as defined above, we'll call them "semi-notable". Those points are only considered at the end of a trend, and help us extend the trend line a bit further.
Sürüm Notları
Fixed a typo in the settings
Sürüm Notları
Fixed the script for non-Premium members
Sürüm Notları
Optimized the script to run faster
Sürüm Notları
Fixed the trendline distance logic
Sürüm Notları
Changed period step size to 5
Sürüm Notları
Now plots trendlines all the way into the past
Sürüm Notları
Removed values from status line
Sürüm Notları
Optimized the script to run faster
Candlestick AnalysisTrend Analysis

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