Trend Oscillator

]Modified DZIV's 'Trend Indicator B' and added a rate-of-change oscillator to better model the buy/sell momentum of each 'push' or leg in the current trend. It may assist in visualizing when 'dips' may be occurring in a current trend for a continuation play and/or when exhaustion may be occurring for a reversal play. Personally, I like to pair with a high and a low BB for even more accurate entries/exits. As always, should be used with context and higher timeframe trend analysis. View Github Repo for how-to use case images.

github.com/DLocarno/Trend-Oscillator/blob/48b3ed068afae2200bf4f7e0ca14c9bcb574eefe/ContinuationExample.png

github.com/DLocarno/Trend-Oscillator/blob/48b3ed068afae2200bf4f7e0ca14c9bcb574eefe/ReversalExample.png

github.com/DLocarno/Trend-Oscillator/blob/48b3ed068afae2200bf4f7e0ca14c9bcb574eefe/ReversalExample2.png

github.com/DLocarno/Trend-Oscillator/blob/48b3ed068afae2200bf4f7e0ca14c9bcb574eefe/EntriesExitsExample.png

Release Notes

*Updated with a hybrid (fast & slow) trend rate-of-change oscillator. Functionality remains the same. Helps estimate a trend's strength/exhaustion as it progresses. Look for slope divergences as compared to price over time.

Release Notes

*Final Update to improve rate-of-change accuracy. Now deriving based on raw trend data before oscillator normalization/compression. Should help correct a false depiction of the rate-of-change when trendline reaches extremes.

Open-source script

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dl1377

Disclaimer

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Open-source script

dl1377