OPEN-SOURCE SCRIPT
[Dark Data] Trend Conviction
Objective
Quantifies directional efficiency by means of penalizing adverse price extension.
Theory
Price movement with little opposition indicates a trend with conviction. High directional efficiency and low adverse pressure typically result in continued directional bias across lower timeframes.
How To Use
Trend Conviction is best used for directional bias on timeframes higher than your execution timeframe.
The output ranges from 1 to -1, where 1 is a perfect uptrend and -1 is a perfect downtrend.
Increasing Penalty Power filters out trends with significant opposing price activity.
Nuanced Info/Warnings
Different assets naturally tolerate varying degrees of counter-trend extension within a healthy trend, so a higher Penalty Power is not always better.
Quantifies directional efficiency by means of penalizing adverse price extension.
Theory
Price movement with little opposition indicates a trend with conviction. High directional efficiency and low adverse pressure typically result in continued directional bias across lower timeframes.
How To Use
Trend Conviction is best used for directional bias on timeframes higher than your execution timeframe.
The output ranges from 1 to -1, where 1 is a perfect uptrend and -1 is a perfect downtrend.
Increasing Penalty Power filters out trends with significant opposing price activity.
Nuanced Info/Warnings
Different assets naturally tolerate varying degrees of counter-trend extension within a healthy trend, so a higher Penalty Power is not always better.
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。