Trend Buddy
This indicator plots the two moving lines overlayed on price. Note that this indicator is most helpful when used with the "Trend Strength Buddy".
The lines can be useful to detect emerging or weakening trends, and will color the candles green when an uptrend is in effect, and red with a downtrend is in effect. Mind that there is no "sideways trend" detection.
This trend-detector is noisier than the Trend Strength Buddy, so it is recommended to use the TSB candle-coloring algorithm in the place of the Trend Buddy's candle-coloring algorithm.
The lines plotted on price can be monitored for several signals, including
- cross-overs: the direction of trend may be reversing
- spreading: the established trend is gaining strength
- compressing: the established trend is losing strength
- touching price: in very strong trends, sometimes price will bounce off the lines and continue, providing a decent entry
When used in conjunction with the Trend Strength Buddy, the cross-overs can be the first sign of a weakening trend, and depending on market conditions may be a good spot to tighten stops or take profit.
Invite-only script
Only users authorized by the author have access to this script, and this usually requires payment. You can add the script to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author — learn more here. For more details, follow the author's instructions below or contact optictropic directly.
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Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
Disclaimer
Invite-only script
Only users authorized by the author have access to this script, and this usually requires payment. You can add the script to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author — learn more here. For more details, follow the author's instructions below or contact optictropic directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.