OPEN-SOURCE SCRIPT
HMM Trend Strength Meter (3-State)
Strong Up-Trend: p_up > 0.6–0.7 → look for BUY setups
Strong Down-Trend: p_dn > 0.6–0.7 → look for SELL setups
Range/Sideways: p_side > 0.6 → consider mean-reversion entries
Adjust your own threshold (e.g. 0.7–0.8) to control signal frequency.
Strong Down-Trend: p_dn > 0.6–0.7 → look for SELL setups
Range/Sideways: p_side > 0.6 → consider mean-reversion entries
Adjust your own threshold (e.g. 0.7–0.8) to control signal frequency.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.