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 a publication is governed by House Rules. You can favorite it to use it on a chart.
Bull Fear/ Bear Fear
The system is a trend follower that appears to get you in at the early in a trend. If the trend breaks down for any reason, the system seems to take you out with relatively little pain, and there is a relatively high
percentage of losing trades (usually around 50%).
Therefore, the system seems to perform best on issues that are prone to make prolonged moves.
So does the system have a 50% false signal rate? And the strange coloring of the candles, how should it be read? And how should the scripts "-2 short" and "long +2" be interpreted? What do those "+2" and "-2" mean?
change time gray
Event calculation method you call -2, + 2 ...
BullFear = (highest (high, n) -lowest (high, n)) / 2 + lowest (high, n)
BearFear = (highest (low, n) -lowest (low, n)) / 2 + lowest (low, n)
The important thing is to find a trend, all indicators are forced horizontally.
Since it is a strategy, it gives 1 bar late.