Wilson-IV

Price movement indicator

This indicator shows us if the price is moving up or down based on the ratio of current price vs previous bar.
If this ratio is above 1 then this indicates that the price is increasing, while if the ratio is below 1 the price is decreasing.


HOW TO USE:
Set the desired EMA length, number of previous bars to compare with and offset.

Markets:
It can be used to all markets.
Release Notes:


Release Notes: - Potential SHORT and LONG entries
SHORT = red circle
LONG = green circle
- Signal line (blue)
Release Notes: Removed unnecessary plots and variables.
Release Notes: HMA added to bring more smoothness
Release Notes: HMA Offset added
Release Notes: Entry points are clear now.
Green - LONG
Red - SHORT
Release Notes: Added SMA length for pricecomparison n-bars back
EMA set to 100
Offset set to 25
Release Notes: Minor bug fixed
Release Notes: Chart error fixed
Skript med en öppen källkod

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.

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