Free Trend or Range Indicator on TradingView
Introducing the "Trend or Range?" Indicator
Understanding market conditions is a cornerstone of successful trading. Whether you’re trading cryptocurrencies, stocks, or forex, identifying if a market is trending or range-bound can drastically enhance your strategy’s effectiveness. The "Trend or Range?" indicator is here to simplify this process.
What Is the "Trend or Range?" Indicator?
The "Trend or Range?" indicator is a composite tool designed to instantly classify the current market state. Using a combination of key metrics like Average True Range (ATR), ADX, slope analysis, RSI stability, and mean reversion, it calculates two scores:
- Trend Score: Indicates the strength of a trending market, ideal for trend-following strategies.
- Range Score: Highlights range-bound conditions, perfect for oscillatory or grid strategies.
How Does It Work?
The "Trend or Range?" indicator leverages advanced calculations to provide actionable insights:
- ATR/Price: Measures normalized volatility.
- ADX: Assesses the strength of trends.
- Slope: Analyzes price directionality over a set period.
- RSI Stability: Evaluates how consistent RSI oscillations are.
- Mean Reversion: Measures price deviation from a moving average.
How to Use the Indicator
Once installed, the "Trend or Range?" indicator displays real-time scores for trend and range-bound conditions. Here’s how to use it:
- Trend Score Dominates: Use trend-following strategies. We recommend the Cyatophilum Bands Indicator, which is tailored for capturing directional moves.
- Range Score Dominates: Focus on range-bound strategies. Check out the Cyatophilum Grid Indicator for efficient grid-based trading.
Who Is It For?
Whether you’re a manual trader or an automated bot enthusiast, the "Trend or Range?" indicator adds significant value. It’s particularly suited for:
- Traders using bots who want to dynamically adjust strategies.
- Manual traders seeking clarity on market conditions.
- Anyone looking to optimize trading results across volatile or consolidating markets.
Take Your Trading to the Next Level
Don’t leave your strategy’s success to chance. With the "Trend or Range?" indicator, you can make informed decisions that align with prevailing market conditions. Combine it with the Cyatophilum Bands and Cyatophilum Grid indicators to maximize your trading potential.
Access the "Trend or Range?" indicator on TradingView.
Written by Cyatophilum - Created 1 year ago - Last edited 1 year ago
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