Trend Strength - Threefold_Ghost

Threefold_Ghost アップデート済   
***************************************************************NO BIAS, NO GUESSING, JUST MATH******************************************************************************************

This script includes open-source code from the following author:


Thank you for publishing your work

This script was modified to enhance previous work as well as to serve as a tool for new and seasoned traders alike. The following indicators are mashed together
because they are both math and trend based, creating a very good indication of what the trend is without any bias. By mashing these indicators together, new traders
can better understand why price may react certain ways and seasoned traders can further deep dive a trend to confirm entries and exits. The script can be used
in any time-frame with any ticker. Note, script is not an overlay and will be displayed in a separate pane. Script is also determined by the bar close. Wait for the
bar close for confirmations.

*****************************************************************HOW TO USE THIS INDICATOR**********************************************************************************************

Defaulted to 100 bars. Unlike the traditional linear regression channel where price is mathematically prone to trade within the regression channel, the linear regression angle works by
calculating the center band of the regression channel and is represented by the green/red columns on the chart. The angle has bullish momentum when greater than 0, represented by the green
columns. Bullish strength is increasing on lime green columns and decreasing on dark green columns, signifying a potential trend reversal. The angle has bearish momentum when less than 0,
represented by the red columns. Bearish strength is increasing on bright red columns and decreasing on dark red columns, signifying a potential trend reversal. Column scale is defaulted to
100 and will need adjusting based on what ticker and time-frame is being charted. Small value assets need a larger scale size and high value assets will need a smaller scale size to fit on chart.

ADX & Directional Movement:
Defaulted to 14 bars. ADX is represented by circles and is lime green/maroon when bullish/bearish trend strength is increasing and black when trend strength is decreasing. There is
market chop when ADX below 25. Very strong trend when above 50. Extreme signal line at 50 is represented by black crosses. Crosses turn red when bullish ADX above 50, signifying potential
trend reversal. Crosses turn lime green when bearish ADX above 50, signifying potential trend reversal.
+DMI or bullish momentum represented by green/black line, weak strength when below 25. -DMI or bearish momentum represented by maroon/black line, weak strength when below 25.

Added ability to customize label positions
Updated bullish & bearish momentum default colors. Removed linear regression bars' scale input, it is now updated automatically for user based on price of asset viewed. Helps when switching between asset prices that vary in range from less than $1, to over $10, to $100, $1,000, and $10k+, etc.
set regression angle bar scale to update automatically based on timeframe and asset price
Commented out the lines that would plot signals on chart to clean up the chart. Changed linear regression default to 60, down from 100 bars. Adjusted colors so when bears on top, bull line blacked out, when bulls have upper hand, bear line blacked out
ADX plot color updates for bullish/bearish momentum
Updating Chart Image
Quick update to code for regression angle code to make bars smaller on charts with candles close prices less than $1
updated regression scale
update logic to factor in the regression angle scale regardless of ticker and timeframe
fixed bug to update regression angle bar colors correctly
updated plot settings, changed linear regression angle to plot as a moving average to smooth out the histogram
Updated regression angle histogram, now also displays histogram average

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