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Uber Trend Indicator

This is my first custom indicator that I created as a medium to long term trend indicator. Buy if it is above 0 and sell if it is below 0.

Since this is my first unique indicator, I would love to hear your feedback! Please let me know if you would like to see any other scripts!
Release Notes: changed the formula to limit the indicator between +1 and -1
Release Notes: updated to match with my other indicators
Release Notes: fixed issue with default resolution
Open-source script

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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Kommentarer

This is just for user information, i just did a backtest of the strategy on the EUR/USD from the 1 jan 2018
56 trades placed:
44% winrate
21 wins/ 31 losses.

summary:
very nice strategy definaty going in my top 100, this will do wonders with a good volume indicator, if you wonering i used the average true range x1.5 as stop loss and tp.

secondly this is actually a profitable indicator on its own if you include the massive trends that is got in very early.
Svara
@s2yl, thank you for the great information. i haven't had a chance to do backtesting on my scripts yet
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Great!
I have a question. Why do you call it Uber?
Svara
@up2you, Uber just means extremely good in english so I just thought it described my indicator well. Also I'm from German heritage so I like to use German words to describe my indicators
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Very good work Sir!!
Thank you for the sharing ! And this modification between -1 to 1 is the way to follow i think !!! Well done Sir.

All the best !!
Svara
@phohat, thank you very much!
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