OPEN-SOURCE SCRIPT

Trend Heatmap

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"Trend Heatmap," is a custom technical indicator designed to measure and visualize the strength and direction of market trends by combining price action with volume data.

Instead of relying on a single moving average or momentum oscillator, it creates a custom "heatmap" value that attempts to quantify whether buying or selling pressure is currently dominant.

The script does not plot directly on your main price chart; it appears in a separate pane below the chart.

This indicator is designed to help traders identify trend exhaustion or shifts in momentum. Because it incorporates volume, it is intended to help filter out "fakeouts"—price moves that occur on low volume and are often less sustainable.

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