Firefox wrote: Fri Nov 01, 2024 5:09 am May coders please consider adding levels on color change, regards
The market profiles are annoying and crusty so I replace it with this

BDFXTrender with Support and Resistance lines

Try!

What is the BDFXTrender indicator?

The BDFXTrender indicator is created to show market trends using the LSMA and a Moving average. It assists traders in spotting possible buying or selling chances by giving clear visual signals and alerts that reflect market conditions. By merging various Moving Averages and setting rules for identifying trends, it serves as a detailed tool for technical analysts.

What is the BDFXTrender based on?

The BDFXTrender indicator determines the trend by using a mix of a Least Squares Moving Average (LSMA) and a Moving Average (MA) for a set time frame.

The indicator establishes a trend based on the relationship between the LSMA and the Moving average:

• Bullish Trend: If the LSMA is rising (i.e., current LSMA above previous LSMA) and is below the MA.
• Bearish Trend: If the LSMA is falling (i.e., current LSMA above previous LSMA) and is above the MA.
• Neutral Trend: When the LSMA is either both above or below the MA while not crossing.

This version now comes with added Support and Resistance (horizontal) lines based on the indicator's trend color changes.

PS: For a newer version with Trend Mode levels, please see here: BDFXTrender with Support and Resistance lines & Trend Mode.

If you're new to the LSMA, please see this page under "Linear Regression Value" for it's definition.