INVITE-ONLY SCRIPT
MRT, Barcolor for Trend Direction
This is an indicator that I use to identify trend.
1- This is
AAPL five minutes chart
A-Yellow Circles on the chart: Green is a Buy ,Red is a Sell
B-The white bars are transition to to the opposite color (red to green or vic versa ) it can serve as a warning of trend change.
C-As with any signal , sometimes it is a false signal (the white circles you see there). However, I would stick to the signal each time it changes.
2-The indicator uses previous highs and lows based on different time frames that you select. and calculate the winners and losers.
3-
A-I personally choose shorter time frame ( Hour, 30 minutes, even 1 minute) because I want faster signals to trade short term.
B-However, you can use it for longer term if you trade on longer time frames.
c-Whatever timeframe you use , choose lower for the candle; For example, if you use the One-Hour for the indicator then apply it to the five minutes chart. I use the 30 seconds chart.
4-This indicator will not guarantee any returns.
comment if you have any question.
1- This is
AAPL five minutes chartA-Yellow Circles on the chart: Green is a Buy ,Red is a Sell
B-The white bars are transition to to the opposite color (red to green or vic versa ) it can serve as a warning of trend change.
C-As with any signal , sometimes it is a false signal (the white circles you see there). However, I would stick to the signal each time it changes.
2-The indicator uses previous highs and lows based on different time frames that you select. and calculate the winners and losers.
3-
A-I personally choose shorter time frame ( Hour, 30 minutes, even 1 minute) because I want faster signals to trade short term.
B-However, you can use it for longer term if you trade on longer time frames.
c-Whatever timeframe you use , choose lower for the candle; For example, if you use the One-Hour for the indicator then apply it to the five minutes chart. I use the 30 seconds chart.
4-This indicator will not guarantee any returns.
comment if you have any question.
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