A simple indicator I use to filter out noise. it tracks reversals of a Hull Moving Average, which ultimately highlights short term trends and potential chart patterns. I've also included an option to project the most recent trend forward, if that is something you would like to tinker with.
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Added a second trendline to indicate if price trend is accelerating or decelerating. The gray line will follow the colored one, the angle between the lines is indicative of the change in momentum.
- if GREEN line is above (RED below) the gray, the trend is parabolic. - if GREEN line (or RED) is near gray, the trend is linear. - if GREEN line is below (RED above) the gray, the trend is consolidating.
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Added max_bars_back to weed out a bug that causes intermittent errors upon loading.
@thefinally, the latest trendline (colored one) does repaint. It gets locked in upon reversal of the under-lying Hull ma. The gray dashed line is an extension of the latest trendline. The colored dashed line is an extension of the slope of the last 2 bars of the MA. Those repaint as well.
Use the bar replay to see how they behave in real time.
Johannes98
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@djsnowman06, it doesn't appear now on my charts please help.
djsnowman06
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@Johannes98, does it give on error next to the title? if so what does it say?
bayervandh
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Thank you,very good and simple indicator.
asterisk_544
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What tf does this work best?
djsnowman06
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@asterisk_544, i dont really understand what you're asking...