OPEN-SOURCE SCRIPT
Follow Line Indicator
Updated
The FollowLine indicator is a trend following indicator. The blue/red lines are activated when the price closes above the upper Bollinger band or below the lower one.
Once the trigger of the trend direction is made, the FollowLine will be placed at High or Low (depending of the trend).
An ATR filter can be selected to place the line at a more distance level than the normal mode settled at candles Highs/Lows.
Alerts Added
Once the trigger of the trend direction is made, the FollowLine will be placed at High or Low (depending of the trend).
An ATR filter can be selected to place the line at a more distance level than the normal mode settled at candles Highs/Lows.
Alerts Added
Release Notes
Alerts AddedOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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