OPEN-SOURCE SCRIPT
Multi Trend Score Oscillators
Oscillators Multi Trend score
Part 1: How the Indicator Works Under the Hood
//The script evaluates the market using three independent concepts: Trend Direction, Momentum, and Market Regime (Volatility). It works on a strict point system that ranges between a maximum bullish score of +2.0 and a maximum bearish score of -2.0.
Trend Filter (Moving Averages): Max +/- 1.0 Point
It checks a fast 15 EMA and a slower 50 EMA.
Bullish (+1.0): If the 15 EMA is above the 50 EMA and the price is trading above the 15 EMA.
Bearish (-1.0): If the 15 EMA is below the 50 EMA and the price is trading below the 15 EMA.
Momentum Filter (MACD): Max +/- 1.0 Point
It analyzes the MACD line, Signal line, and Zero line.
Bullish Points: Gets +0.5 if the MACD line is above the Signal line, and another +0.5 if the MACD line is above the center zero line.
Bearish Points: Loses -0.5 if the MACD line is below the Signal line, and another -0.5 if the MACD line is below zero.
The Gatekeeper (ADX Filter)
Before plotting, it checks the ADX (Average Directional Index). If the ADX is below 20, it means the market is ranging, chopping sideways, or dead.
The Penalty: If ADX < 20, it slashes the final score by 75% (trendScore * 0.25). This flattens the wave near zero, saving traders from getting chopped up in range-bound markets.
Indicator Overview: Multi-Indicator Trend Score (MITS)
MITS is a quantitative dashboard squeezed into a single, clean oscillator pane. It eliminates analysis paralysis by combining Moving Average trends, MACD momentum, and ADX market //regimes into a dynamic Trend Score between -2 and +2.
🔹 Key Features:
//Confluence Scoring: Rather than looking at EMAs and MACD separately, the script calculates their confluence in real time.
ADX Volatility Gatekeeper: When the market enters a low-volume, sideways chop zone (ADX < 20), the script automatically flattens the scoring engine by 75%. This prevents false //breakout signals.
Clean Visuals: Smooth area-gradient fill anchors to a zero-line baseline. Bright Green represents aggregate bullish confluence; Deep Red highlights aggregate bearish confluence.
How to Trade It:
Score > 1.0: Strong Bullish Confluence. Look for long entries or ride the trend.
Score < -1.0: Strong Bearish Confluence. Look for short entries or protect capital.
Flatline / Near Zero: The market is either flipping trends or trapped in a low-volatility chop zone filtered by the ADX. Sit on your hands.
Part 1: How the Indicator Works Under the Hood
//The script evaluates the market using three independent concepts: Trend Direction, Momentum, and Market Regime (Volatility). It works on a strict point system that ranges between a maximum bullish score of +2.0 and a maximum bearish score of -2.0.
Trend Filter (Moving Averages): Max +/- 1.0 Point
It checks a fast 15 EMA and a slower 50 EMA.
Bullish (+1.0): If the 15 EMA is above the 50 EMA and the price is trading above the 15 EMA.
Bearish (-1.0): If the 15 EMA is below the 50 EMA and the price is trading below the 15 EMA.
Momentum Filter (MACD): Max +/- 1.0 Point
It analyzes the MACD line, Signal line, and Zero line.
Bullish Points: Gets +0.5 if the MACD line is above the Signal line, and another +0.5 if the MACD line is above the center zero line.
Bearish Points: Loses -0.5 if the MACD line is below the Signal line, and another -0.5 if the MACD line is below zero.
The Gatekeeper (ADX Filter)
Before plotting, it checks the ADX (Average Directional Index). If the ADX is below 20, it means the market is ranging, chopping sideways, or dead.
The Penalty: If ADX < 20, it slashes the final score by 75% (trendScore * 0.25). This flattens the wave near zero, saving traders from getting chopped up in range-bound markets.
Indicator Overview: Multi-Indicator Trend Score (MITS)
MITS is a quantitative dashboard squeezed into a single, clean oscillator pane. It eliminates analysis paralysis by combining Moving Average trends, MACD momentum, and ADX market //regimes into a dynamic Trend Score between -2 and +2.
🔹 Key Features:
//Confluence Scoring: Rather than looking at EMAs and MACD separately, the script calculates their confluence in real time.
ADX Volatility Gatekeeper: When the market enters a low-volume, sideways chop zone (ADX < 20), the script automatically flattens the scoring engine by 75%. This prevents false //breakout signals.
Clean Visuals: Smooth area-gradient fill anchors to a zero-line baseline. Bright Green represents aggregate bullish confluence; Deep Red highlights aggregate bearish confluence.
How to Trade It:
Score > 1.0: Strong Bullish Confluence. Look for long entries or ride the trend.
Score < -1.0: Strong Bearish Confluence. Look for short entries or protect capital.
Flatline / Near Zero: The market is either flipping trends or trapped in a low-volatility chop zone filtered by the ADX. Sit on your hands.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.