Adaptation for Prorealtime v10.3 of the Madrid Trend squeeze indicator appeared on the Tradingview platform.
The Madrid Trend Squeeze is shown in color histograms.
There are seven colors used:
dark green; Upward trend in general.
light green; Current bullish trend.
light blue; The maximum profitability in a long position.
Squeeze occurs when Green + Lime + Aqua is aligned (the larger the values are).
brown; Downward trend in general.
red; Current downtrend.
fuchsia; The maximum return in a short position.
yellow; The trend has come to a halt and it is an investment warning or a continuation. These are entry points, re-entry or closing.
When Fuchsia or Aqua color disappear or contract significantly, it could mean a possible exhaustion of the movement that will have to be confirmed with the back bars.
When the color of the compression appears without the intermediate color (Fuchsia + Yellow, Fuchsia + Maroon, Aqua + Yellow, Aqua + Green) it could mean that this is just a shake of the movement.
Adaptación para Prorealtime v10.3 del indicador Madrid Trend squeeze aparecido en la plataforma Tradingview.
El Madrid Trend Squeeze se muestra en histogramas de colores.
Hay siete colores utilizados :
Green=verde oscuro ; tendencia alcista en general.
Lime=verde clarito; tendencia actual alcista.
Aqua=celeste clarito; la rentabilidad máxima en una posición larga.
El Squeeze ocurre cuando Green+Lime+Aqua estan alineados (cuanto más grande sean los valores mejor).
Maroon=castaño; tendencia bajista en general.
Red=rojo; tendencia bajista actual.
Fuchsia=fucsia; la rentabilidad máxima en una posición corta.
Yellow=amarillo; la tendencia ha llegado a una pausa y es una advertencia de inversión o de una continuación.Estos son los puntos de entrada, reentrada o cierre.
Cuando el color Fuchsia o el Aqua desaparecen o se contraen significativamente, podría significar un posible agotamiento del movimiento que tendrá que confirmarse con las barras posteriores.
Cuando el color de la compresión aparece sin el color intermedio (Fuchsia+Yellow,Fuchsia+Maroon,Aqua+Yellow,Aqua+Green) podría significar que esto es sólo una sacudida del movimiento.
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REM MADRID TREND SQUEEZE //indicador de la plataforma Tradingview creado por Madrid // Madrid : Squeeze Trend : 02/Aug/2015 : 11:41 : 2.0 // This Study determines the range where the trend is more profitable. // http://madridjourneyonws.blogspot.com/ //adaptación para Prorealtime v10.3 por bolsatrilera Junio 2017 len = 34 src = close ref = 13 sqzLen = 5 ma =ExponentialAverage[len](src) closema = close - ma refma =ExponentialAverage[ref](src)-ma sqzma =ExponentialAverage[sqzLen](src)-ma if closema>=0 then colorr=0 colorg=255 colorb=255 else colorr=255 colorg=0 colorb=255 endif if sqzma>=0 then scolorr=50 scolorg=205 scolorb=50 else scolorr=255 scolorg=0 scolorb=0 endif if refma>=0 and closema<refma or refma<0 and closema>refma then r=255 g=255 b=0 elsif refma>=0 then r=0 g=128 b=0 else r=128 g=0 b=0 endif return closema coloured (colorr,colorg,colorb)style(histogram)as "closema",sqzma coloured (scolorr,scolorg,scolorb)style(histogram)as "sqzma",refma coloured(r,g,b)style(histogram)as "refma",0 as "0" |
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Do you have an update of this indicator since you’ve created them, or is this still the actual version?
Thank you for this work. Do you try to transform/put this indicator on candlesticks and is it to show divergence on the graph?