OPEN-SOURCE SCRIPT
Trend Strength Directional Indicator
This study was inspired by two famous Trading View contributors. Shout out to Lazy Bear and Crypto Face!
In this study you have a live view of the strength of direction the market is heading. The indicator that looks like a black wave is showing us the momentum of price action. When a green dot appears under the lower level it is a indication that we should consider buying, and if the red dot appears over the upper level we should sell. The custom MFI indicator determines how much money is flowing into the market. If it is green that means money is flowing into the market and if it shows red it means that money is flowing out of the market.
In this study you have a live view of the strength of direction the market is heading. The indicator that looks like a black wave is showing us the momentum of price action. When a green dot appears under the lower level it is a indication that we should consider buying, and if the red dot appears over the upper level we should sell. The custom MFI indicator determines how much money is flowing into the market. If it is green that means money is flowing into the market and if it shows red it means that money is flowing out of the market.
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.