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?

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

  1. Maxime Baudin • 188 days ago #

    Thank you very much Nicolas! 🙂

  2. denmar • 188 days ago #

    Awesome. Thanks Nicolas.

    • Screw27 • 178 days ago #

      Salut nicolas j’aimerais savoir tes rĂ©sulats grace a cettte methode

  3. born2trading • 187 days ago #

    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 • 186 days ago #

      Not an indicator but an option in PRT v11.

avatar
Register or

Likes

avatar avatar avatar avatar avatar avatar avatar avatar avatar
Related users ' posts
Xtian Bonjour Nicolas, est-il possible de vous contacter en message privé pour une demande d'un dé...
Alai-n https://www.prorealcode.com/trading-programming-services/ ;)
Nicolas
3 weeks ago
IV Mcm Indeed, copy-paste does not work. You must delete "floor" in the original code line 62 and ...
Canis Majoris Bonjour Nicolas, J'ai pas bien compris le principe de fonctionnement de ce range filter i...
Nicolas La définition des couleurs se situent entre les lignes 94 et 118. Selon le type de bougie (h...
toufikg Bonjour , je trouve cet indicateur vraiment trés intéressant , peut on le rajouter au graph...
Maxime Baudin Thank you! Great work
IV Mcm V2 is coming
KarlBenjamin Thankyou so much Nicholas! Hopefuly this is the last piece of the puzzle. Many thanks!
Juan Gonzalez Que buen contenido! No tienes alguno que me permita operar Order Flow? Gracias
Fabian Hi IV Mcm, have you drawn the rectangles (Dinamic, Range) by yourself in the chart or are...
IV Mcm Myself to illustrate ;)
oraclus Bonjour indicateur très intéressant existe t il un screener qui détecte les actions qui donn...
maxlys Merci IV Mcm pour ces screeners et indicateurs. Pourriez vous expliquer les différentes coul...
IV Mcm Hello, Blue dots indicate the start of an uptrend, gray dots indicate the start of a down...
utilisateur Bonjour, merci pour cet excellent outil.
mickey992 salut merci pour ton partage et ton travaille
patapouf Hi Vivien René I just discovered your “Ordered trend-following stocks Screener”. Great work...
afanitro424 its not plotting on chart but instead as it's own histogram directly below chart? How to fix...
Nicolas by adding the indicator on the chart :)
geroniman bonjour Nicolas merci pour tous ces itf. J'utilsie une stratégie qui dépend d'un niveau de 5...
Nicolas Oui c'est possible. Merci de ne pas poster des demandes qui sont hors sujets. Pour les deman...
Dunstan I would like to get guidance_ How do I access and attach this indicator to my MT5 platform...
Nicolas You can't, use prorealtime, it's way better
Nicolas Le paramètre showcl doit être en true (égal à 1 )
Lednora Ah oui en effet c’est magique!j’étais resté bloqué sur la ligne 96^^. Merci beaucoup nicolas...
samsampop Merci Nicolas, c'est superb!
jaginho Bonjour, lorsque j'importe la dernière formule, j'ai un message d'erreur qui se met à ce niv...
IV Mcm Bonjour, Je ne reconnais pas cette ligne dans le code, essayer de télécharger directement le...
XXXXVII Fixed ITF Trend Background //Indicateur CCI ID2 = CCI[50] => 60 ID3 = CCI[100] => 60...
Sanglier thanks ! i have been looking forward to find something like this

Top