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CTS Daily Bias Column

$97.00

This code is used to analyze the market forecast data and provide visual indications on a trading chart. It helps traders understand whether the market is showing bullish (upward) or bearish (downward) trends, and to what degree those trends are strong or weakening. Here’s a breakdown of what the code does:

1. Data Analysis:
– The code takes into account different aspects of market forecast data, specifically the “Intermediate,” “Nearterm,” and “Momentum” values.

2. Direction Identification:
– It checks whether the current market trend is moving up (bullish) or down (bearish) by comparing the current “Intermediate” value with the values from the previous bar.

3. Categorization:
– Based on the market conditions and trends, the code categorizes the situation into various scenarios:
– “Strong Bullish”: If the market is strongly trending upwards.
– “Bullish Weakening”: If the upward trend is slowing down.
– “Bullish Strengthening”: If the upward trend is gaining strength.
– “Bullish Flat”: If the market is trending upwards but with no significant change.
– “Strong Bearish”: If the market is strongly trending downwards.
– “Bearish Weakening”: If the downward trend is slowing down.
– “Bearish Strengthening”: If the downward trend is gaining strength.
– “Bearish Flat”: If the market is trending downwards but with no significant change.
– “Not Enough Data”: If the conditions don’t match any of the above scenarios.

4. Color Coding:
– Each of these scenarios is associated with a specific color for easy visualization on the trading chart.
– Green colors represent bullish scenarios.
– Red colors represent bearish scenarios.
– Black, gray, and yellow are used for additional differentiation.

5. Background Color:
– The code also sets background colors for the chart based on the same scenarios, providing an overall color theme that corresponds to the market trends.

In essence, this code helps traders quickly interpret the current market conditions and trends by visually representing them on the trading chart. It aids in making informed trading decisions based on the strength and direction of the market movement.

Please note that this script is for educational purposes and cannot be shared due to user agreement restrictions.