Trend Following Bars (heatmap)

v10.3
Trend Following Bars (heatmap)

While analysing a chart, one of the biggest problem is to see if there is trend or not. While thinking about it, I found the idea to analyse moving averages in channel and their momentum according to channel width.

How it Works?

On each bar it creates a channel by highest/lowest point of a MA. highest point is upper line and lowest point is lower line of the MA channel,
It gets highest and lowest point of last 300 bars, (say Price Channel )
If the width of MA channel is greater than certain rate of price channel then it decides there is trend
After it decided there is trend, it calculates the rate between channel and MA. Bigger result means stronger trend.
According to rate of MA channel and the price channel , bar color becomes lighter/darker. so when you look at the bar color you can see the trend strength.

(description from the original author LonesomeTheBlue, all credits go to him). Indicator converted from pinescript with some adaptation to make it works with ProRealTime.

Similar indicator as the other published here: Trend Following Moving Averages(but with heatmap below the chart this time).

 

Share this

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

PRC is also on YouTube, subscribe to our channel for exclusive content and tutorials

  1. Maxime Baudin • 04/20/2020 #

    Thank you very much Nicolas! 🙂

  2. denmar • 04/20/2020 #

    Awesome. Thanks Nicolas.

    • Screw27 • 04/20/2020 #

      Salut nicolas j’aimerais savoir tes résulats grace a cettte methode

  3. born2trading • 04/20/2020 #

    hello Nicolas, sorry for off-topic question, but can you tell me what kind of indicator you use to get this watermark with the name of the product on your screen? It would help me a lot with my multi-screen and products set up. Thank you.

    • Nicolas • 04/20/2020 #

      Not an indicator but an option in PRT v11.

  4. eva.g.forsgren • 04/20/2020 #

    It dose not work, I get a strap instead of candels???????????????????????????????????????????

    • Nicolas • 04/20/2020 #

      That indicator is the one below the chart. The indicator to put on the price chart is this one: https://www.prorealcode.com/prorealtime-indicators/trend-following-moving-averages/

avatar
Register or

Likes

avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar
Related users ' posts
Iván Hi You should delete from the indicator code all drawing functions and all variables not us...
Iván I've created a screener to show [longcondition or shortcondition]
Chrisinobi Hallo Ivan, Danke das ist Perfekt !! Kannst du bitte in der Screener-Bibliothek die itf. hoc...
MaoRai54 Thanks, now it's OK. in your first code at line 15-16 it's missing.
Madrosat Hello Ivan Did you try a strategy with this indicator
Iván Hi. No I didn't. This is a code translation requested by an user a few days ago.
Iván
1 month ago
cjr30 Simplemente modifica las lineas 19 y 21 por las siguientes: drawtext("▲",barindex,low-0.1*a...
groelandes Gracias!!
WhyAskOZ i copied the code into strategy and it gives error on line 21 and 23. it says " Line 1: ...
Iván
1 month ago
Madrosat Hello Ivan You have interesting topics on indicators , smart supertrend, optimised trend t...
Iván Hi! thanks. All of these codes are translations requested in the forum. I've on mind to back...
Iván
2 months ago
Fgats quelques explications en Français ici : Some explanations in French here : https://www.p...
Nicolas Merci pour cette contribution, j'apprécie ! :)
Fgats Merci Nicolas pour ces encouragements et merci aussi pour le commentaire en Anglais accompa...
Alai-n I really like it when you develop ideas around price movement! I am much less a fan of all t...
finplus Bonjour, une petite demande concernant cet indicateur : comment faire pour que lorsque la bo...
LucasBest Bonjour, la coloration des bandes se fait ligne 111 et 112 à l'aide des instructions colorbe...
elcortijoverde Muy buen trabajo.Intuitivo y claro.Gracias por tu dedicación y aportación.
Nicolas
8 months ago
B-Xtrender
B-Xtrender
7
Indicators
Fgats I suspected something like this but in the PRT documentation I couldn't find anything to exp...
616248 Bonjour Nicolas, Peux tu nous expliquer le principe de fonctionnement ? Ou nous mettre un...
Nicolas Le lien vers l'article IFTA de l'auteur est dans le post déjà :)
JS
8 months ago
Trendilo
Trendilo
0
Indicators
Nicolas
8 months ago
Anthony2A Bjr, j ai des erreurs sur la ligne 69, 74, 78 et 80. sur drawcandle drawtext et endif. si ...
Lucas0000 Hello, Congratulations on this programming, it seems incredible to me, I am new to this but ...
plbourse Hello, I am trying to use this singal (in fact I have converted it to an indicateur giving B...
BriceE Bonjour Nicolas, Je suis a la recherche d'indicateurs pour me donner la meilleure indicatio...
Nicolas
10 months ago
Maxime Baudin Well done Nicolas, creative!
Stenozar Hi Nicolas, please can you explain how to read/use this indicator? thanks!
FXtonio @RICOU en 1 minutes avec un filtre de tendance ZLSMA 200 et eventuellement un rsi 7 , 69% de...
JC_Bywan For people interested in the screener: https://www.prorealcode.com/topic/screener-buy-sell-m...
octum Gracias NJicolas. Las lineas 35 y 36 dan fallo. (¿Es adrede para iniciados?) Puedes co...
Nicolas Yes, Magic if the variable that contains the value of the line, you can test if it goes up o...
dadah1987 Bonjour Nicolas, merci pour cet indicateur. Utilisant pour l'instant la création simplifié p...
Nicolas Merci d'ouvrir un sujet sur le forum avec une description complète du système.
GustavoLoboOrenstein Is it possible to add histogram with only increasing bars?

Top