Hobbs Confluence Setup

This TradingView indicator attempts to identify price continuation and reversal conditions in the market by using multiple market measurements in confluence. This indicator takes Hobbs prior indicator releases and adds an additional moving average convergence or divergence change in trend validation to identify potential trend continuation from a pullback or a sustained reversal from a high or low. This indicator can be useful in multiple timeframes and can be effective when used in confluence with other trading strategies like support/resistance and pattern continuation or breakout. This indicator is even more powerful when combined with Hobbs Continuation and Hobbs Reversal indicators. Specifically, Hobbs Confluence Setup looks at:

Candle formation in relation to the prior candle (user configurable).

Candle volume in comparison to prior candle (user configurable).

Current trend in moving average convergence or divergence (user configurable).

Relative strength or weakness and length (use configurable).

Current price in relation to fast and slow exponential moving averages (user configurable).