Triple Close Indicator (TCI)

Triple Close Indicator (TCI)
Overview:
The Triple Close Indicator (TCI) is a trend-following and entry signal tool designed to simplify market decision-making. Using a 50-period moving average (MA) as the primary trend filter, TCI identifies consecutive close patterns to generate high-probability bullish and bearish entry signals. Its clean design ensures minimal chart clutter while highlighting actionable points.

How It Works:

Trend Identification

The 50 MA is the core trend filter:

Price above 50 MA → bullish trend

Price below 50 MA → bearish trend

Signal Lines (Green/Red Lines)

Green Line: Marks every 3rd consecutive higher close

Red Line: Marks every 3rd consecutive lower close

Signal lines extend 6 bars forward for reference

Users can customize line width, transparency, and style (solid/dotted)

Entry Signals (Triangles)

Bullish Entry:

Green line above 50 MA → look for a candle closing above this line within the next configurable lookback window (default 5 bars)

Red line above 50 MA → if a candle closes above this line within the lookback window, bullish entry is triggered

Bearish Entry:

Red line below 50 MA → look for a candle closing below this line within the lookback window

Green line below 50 MA → if a candle closes below this line within the lookback window, bearish entry is triggered

Visuals

50 MA line – yellow, main trend filter

Signal lines – green/red with customizable width, transparency, and style

Entry triangles – lime for bullish, red for bearish

Alerts are available for real-time notifications

How to Use Effectively:

Trend Confirmation

Only take long entries above 50 MA and short entries below 50 MA

Avoid counter-trend entries to reduce false signals

Signal Validation

Wait for a candle close beyond the signal line to confirm the entry

Use the configurable lookback window to capture the most recent valid candle

Combine with Other Filters (Optional)

Use volume, ATR, or RSI to filter low-probability setups

Multi-timeframe analysis can enhance signal reliability

Alerts

Use built-in TradingView alerts for real-time execution

Customize messages for notifications on mobile, email, or webhook

Inputs & Customization:

MA Type & Length: Choose SMA, EMA, WMA, or VWMA for 50 MA

Signal Line Colors: Green (bullish), Red (bearish)

Line Width & Transparency: Adjust visual clarity

Line Style: Solid or Dotted

Lookback Window: Number of bars to check for valid entry after a signal line

Best Practices:

Use higher timeframes (1H, 4H, daily) for more reliable signals

Avoid trading in tight consolidation zones; the indicator works best in trending markets

Combine with risk management: define stop-loss below/above signal lines or ATR multiples