OPEN-SOURCE SCRIPT
Trend Score For Loop | NickJoan
Trend Score For Loop is a trend-classification indicator that evaluates the current source relative to a defined range of prior bars using a loop-based scoring process. The resulting score is compared against user-defined threshold levels to identify bullish and bearish state shifts, while the indicator simultaneously colors price candles to reflect the active directional bias.
Methodology
The indicator calculates a cumulative score by comparing the current source value to each historical value between the selected Start and End lookback points. A positive comparison contributes to upward bias, while a negative comparison contributes to downward bias, producing a simple but adaptive measure of directional strength across the selected range.
Signal logic
A bullish state is established when the score exceeds the Long Threshold, while a bearish state is established when the score falls below the Short Threshold. Once a state is confirmed, it remains active until an opposing threshold condition is triggered, allowing the indicator to behave as a persistent market-bias filter.
Visual output
The script plots the trend score in a separate pane and applies color-coded candle overlays on the main chart to improve visual interpretation of the active state.
Methodology
The indicator calculates a cumulative score by comparing the current source value to each historical value between the selected Start and End lookback points. A positive comparison contributes to upward bias, while a negative comparison contributes to downward bias, producing a simple but adaptive measure of directional strength across the selected range.
Signal logic
A bullish state is established when the score exceeds the Long Threshold, while a bearish state is established when the score falls below the Short Threshold. Once a state is confirmed, it remains active until an opposing threshold condition is triggered, allowing the indicator to behave as a persistent market-bias filter.
Visual output
The script plots the trend score in a separate pane and applies color-coded candle overlays on the main chart to improve visual interpretation of the active state.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.