This indicator uses double Bollinger strips.
Also, multiple ADXs are taken into account to measure the strength of the trend, or even its presence.
The objective of this indicator is to give a direction as well as the strength of the trend.
Its use is all the more relevant on a multi-timeframe, so you will take full advantage of its usefulness.
Probably a good idea to avoid being trapped by these ranges.
Kind regards
IV
//
//============================== Indicateur
Trend1 = ADX[5]
Trend2 = ADX[10]
Trend3 = ADX[15]
Trend4 = ADX[20]
Trend5 = ADX[25]
Trend6 = ADX[30]
Trend7 = ADX[35]
Trend8 = ADX[40]
Trend9 = ADX[45]
Trend10 = ADX[50]
MM = average[20](close)
Bolup = MM+STD[20]*1.0
Boldw = MM-STD[20]*1.0
Bol1 = MM+STD[20]*1.0
Bol2 = MM-STD[20]*1.0
Bol3 = MM+STD[20]*2.0
Bol4 = MM-STD[20]*2.0
CMM1 = Bol1-MM
CMM2 = MM-Bol2
CMM3 = Bol3-MM
CMM4 = MM-Bol4
MM0 = average[1](close)-(close)
MM1 = average[1](MM0)+(CMM1)
MM2 = average[1](MM0)-(CMM2)
MM3 = average[1](MM0)+(CMM3)
MM4 = average[1](MM0)-(CMM4)
TrendT1 = Trend1 > Trend1[1]
TrendT2 = Trend2 > Trend2[1]
TrendT3 = Trend3 > Trend3[1]
TrendT4 = Trend4 > Trend4[1]
TrendT5 = Trend5 > Trend5[1]
TrendT6 = Trend6 > Trend6[1]
TrendT7 = Trend7 > Trend7[1]
TrendT8 = Trend8 > Trend8[1]
TrendT9 = Trend9 > Trend9[1]
TrendT10 = Trend10 > Trend10[1]
Trend = TrendT1 or TrendT2 or TrendT3 or TrendT4 or TrendT5 or TrendT6 or TrendT7 or TrendT8 or TrendT9 or TrendT10
//============================== Trend Bullsih
CA1 = close > MM and close > Bolup and Trend
Bullsih = CA1
if Bullsih then
A = 1
else
A = 0
endif
if A = 1 then
drawcandle(MM2,MM1,MM2,MM1)coloured(28,144,194,50)
R = 28
G = 144
B = 194
T = 250
endif
//============================== Trend Bearish
CV1 = close < MM and close < Boldw and Trend
Bearish = CV1
if Bearish then
V = 1
else
V = 0
endif
if V = 1 then
drawcandle(MM1,MM2,MM1,MM2)coloured(100,100,100,50)
R = 100
G = 100
B = 100
T = 250
endif
//============================== No Trend
if A = 0 and V = 0 then
drawcandle(MM2,MM1,MM2,MM1)coloured(158,158,158,50)
R = 158
G = 158
B = 158
T = 90
endif
//============================== Bande Bolliger
return MM0 coloured(R,G,B,T) style (line,2) as "Middle", MM1 coloured(R,G,B,T) style (line,2) as "MM1", MM2 coloured(R,G,B,T) style (line,2) as "MM2", MM3 coloured(R,G,B,T) style (line,2) as "MM3", MM4 coloured(R,G,B,T) style (line,2) as "MM4"