Trend Filter

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The indicator paints the bar colours based on the average open and average close for past N days.
if average close is above average open, the bars are coloured green, otherwise they are coloured red

It can be used as a general trend filter on weekly, daily bars. even on intraday timeframes, this would work well and give a sense of the current trend direction.
Информация о релизе: Added the Moving Average Plots and an additional arrow whenever there is a trend change.
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.

Хотите использовать этот скрипт на графике?


WHy only color the bars? You should add a visible line so to be able to keep track of potential turning points before they happen.
MohitMarwaha GoldBowtie
@GoldBowtie, sure. here you go. have also changed the bar colours to be different on up and down closes for easier identification
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