Ruby River

Ruby River is our special indicator. It consists of a moving average based on bar highs & another moving average based on bar lows. The region between 2 moving averages forms a so-called trend river! When the price closes below the lower MA, a downtrend is formed; and when the price closes above the upper MA, an uptrend is formed. This river can be broadened or narrowed by a user-defined offset based on ninZaATR or standard deviation.

An important part of this indicator is PULLBACK signals. A pullback is certified by the market traveling back into the river (verified by a close) and then going out the river again to resume its trend (verified by a close). Pullbacks are marked by red & blue symbols whose shapes look similar to ruby gemstones, with the meaning that there are rubies in this river. It's real, trading profits can buy rubies :)

A must-consider indicator for trend followers!

• Plot a moving average based on bar highs & a moving average based on bar lows
• Allow defining moving average (with
  11 popular moving averages
  )
• Allow smoothing moving average
• Paint the cloud between 2 moving averages to clearly show uptrend vs downtrend
• Colorize bars to clearly show uptrend vs downtrend
• Paint plot to clearly show uptrend vs downtrend
• Paint chart background to clearly show uptrend vs downtrend
• Colorize bars based on 2 phases: uptrend, downtrend
• Trigger alerts on trend shift
• Trigger alerts on pullback
• Print markers on trend shift
• Print markers on pullback
• Be NinjaScript ready for advanced usage, only restricted by your imagination
• Expose dedicated NinjaScript signals

• Signal_Trend: 1 = uptrend, -1 = downtrend
• Signal_Pullback: 1 = uptrend pullback, -1 = downtrend pullback, 0 = no pullback