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TrendLines MTF [Cometreon]TrendLines MTF is a next-generation indicator designed to automatically detect and plot all relevant trendlines across any symbol and timeframe—including higher ones. Using advanced algorithms, it constantly scans price action and updates the chart in real-time, offering a fast, precise, and dynamic view of market structure. This tool streamlines market analysis and boosts decision-making by eliminating the need for manual trendline drawing. 🔷 Key Features 🟩 Automatic Plotting The indicator automatically draws and updates trendlines, providing a real-time overview of market trends. 🟩 Breakout and Bounce Signaling Provides immediate notifications when a trendline is broken or the price bounces off it, allowing traders to react promptly to market changes. 🟩 Customization Offers the ability to modify length, touches, colors, and line style to suit individual preferences. 🟩 Information Table Includes a detailed table showing the values of all active trendlines, facilitating the monitoring of key market points. 🟩 Configurable Alerts Allows setting custom alerts for breakouts, bounces, or creation of new trendlines. 🔷 Technical Details and Customizable Inputs Trendline offers a range of customizable inputs that allow adapting the indicator to specific needs: 1️⃣ Trendline Type - Select between active trendlines, broken ones, both, or none. 2️⃣ Left and Right Length - Defines the extension of maximum and minimum points to identify Trendlines. 3️⃣ Timeframe - You can also modify the timeframe of Trendlines to display a higher timeframe. 4️⃣ Confirm at Timeframe - Allows you to confirm the Trendlines using the chart's timeframe instead of the selected one. This checks whether a candle has already broken the line previously. 5️⃣ Delete at Timeframe - Input to remove trendlines based on breakouts with chart candles, instead of using candles of a higher timeframe. 6️⃣ Touch Need - Sets the number of touches needed to confirm a Trendline. 7️⃣ Max Trend Line for Level - Limits the maximum number of Trendlines in a single level. 8️⃣ Extended Line After Break - Option to extend broken Trendlines by a specific value. 9️⃣ Session Range - The "Session Range" offers two options: select a specific date or a period relative to the last candle. The input allows choosing between "Choose" and "Pick Up". With "Choose", you select a relative period, with two modes: Last : shows the trendlines of the selected period, compatible with Replay. Real Time : displays all TrendLines, searching from the last selected period. Example: "1 Month" with "Last" shows the TrendLines from the previous month, while "Real Time" searches without time limits but uses the values from the last month. This allows defining the search depth of the indicator, crucial for computing power. In case of issues, use "Auto". 1️⃣0️⃣ Trendlines Style - Modify the style for each type of Trendlines (Valid, Break) including color, style, and line thickness. 1️⃣1️⃣ Trends Trendlines - Enable/disable two different trends: Trend Bar Color : based on TrendLines breakouts. Breaking a bearish TrendLine results in a bullish trend, vice versa for breaking a bullish TrendLine. Trend Background : based on the number of active TrendLines. For example, if the number of bullish TrendLines is greater than the "Strength", the trend will be bullish. 1️⃣2️⃣ Signal Style - You can enable or disable breakout and bounce signals, with customizable colors for each signal type. 1️⃣3️⃣ Alert - Set notifications for breakouts, bounces, or formation of new Trendlines. 1️⃣4️⃣ Table - Customize the table showing the values of all active trendlines, facilitating the monitoring of key market points. You can modify the appearance of the table, changing the color of cells and text. These options allow you to optimize the indicator for different trading styles and market conditions, ensuring precise and personalized technical analysis. 🔍 How to Use Trendlines MTF 📌 Market Analysis Use the displayed Trendlines as critical indicators of market dynamics to make informed trading decisions. 📈 Signal Interpretation Leverage Trendline breakouts and bounces to identify potential trend changes and trading opportunities. 🛠 Strategy Integration Use Trendlines and generated signals as a basis for creating personalized and innovative trading strategies. ☄️ With Trendlines, you can simplify your market analysis, saving time and improving the accuracy of your decisions with clearly visualized and customizable Trendlines. Don't waste any more time and visit the link to get access to all Cometreon indicators.
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Cometreon tarafından
Auto TrendLines [TradingFinder] Support Resistance Signal Alerts🔵 Introduction The trendline is one of the most essential tools in technical analysis, widely used in financial markets such as Forex, cryptocurrency, and stocks. A trendline is a straight line that connects swing highs or swing lows and visually indicates the market’s trend direction. Traders use trendlines to identify price structure, the strength of buyers and sellers, dynamic support and resistance zones, and optimal entry and exit points. In technical analysis, trendlines are typically classified into three categories: uptrend lines (drawn by connecting higher lows), downtrend lines (formed by connecting lower highs), and sideways trends (moving horizontally). A valid trendline usually requires at least three confirmed touchpoints to be considered reliable for trading decisions. Trendlines can serve as the foundation for a variety of trading strategies, such as the trendline bounce strategy, valid breakout setups, and confluence-based analysis with other tools like candlestick patterns, divergences, moving averages, and Fibonacci levels. Additionally, trendlines are categorized into internal and external, and further into major and minor levels, each serving unique roles in market structure analysis. 🔵 How to Use Trendlines are a key component in technical analysis, used to identify market direction, define dynamic support and resistance zones, highlight strategic entry and exit points, and manage risk. For a trendline to be reliable, it must be drawn based on structural principles—not by simply connecting two arbitrary points. 🟣 Selecting Pivot Types Based on Trend Direction The first step is to determine the market trend: uptrend, downtrend, or sideways. Then, choose pivot points that match the trend type : In an uptrend, trendlines are drawn by connecting low pivots, especially higher lows. In a downtrend, trendlines are formed by connecting high pivots, specifically lower highs. It is crucial to connect pivots of the same type and structure to ensure the trendline is valid and analytically sound. 🟣 Pivot Classification This indicator automatically classifies pivot points into two categories : Major Pivots : MLL : Major Lower Low MHL : Major Higher Low MHH : Major Higher High MLH : Major Lower High These define the primary structure of the market and are typically used in broader structural analysis. Minor Pivots : mLL: minor Lower Low mHL: minor Higher Low mHH: minor Higher High mLH: minor Lower High These are used for drawing more precise trendlines within corrective waves or internal price movements. Example : In a downtrend, drawing a trendline from an MHH to an mHH creates structural inconsistency and introduces noise. Instead, connect points like MHL to MHL or mLH to mLH for a valid trendline. 🟣 Drawing High-Precision Trendlines To ensure a reliable trendline : Use pivots of the same classification (Major with Major or Minor with Minor). Ensure at least three valid contact points (three touches = structural confirmation). Draw through candles with the least deviation (choose wicks or bodies based on confluence). Preferably draw from right to left for better alignment with current market behavior. Use parallel lines to turn a single trendline into a trendline zone, if needed. 🟣 Using Trendlines for Trade Entries Bounce Entry: When price approaches the trendline and shows signs of reversal (e.g., a reversal candle, divergence, or support/resistance), enter in the direction of the trend with a logical stop-loss. Breakout Entry: When price breaks through the trendline with strong momentum and a confirmation (such as a retest or break of structure), consider trading in the direction of the breakout. 🟣 Trendline-Based Risk Management For bounce entries, the stop-loss is placed below the trendline or the last pivot low (in an uptrend). For breakout entries, the stop-loss is set behind the breakout candle or the last structural level. A broken trendline can also act as an exit signal from a trade. 🟣 Combining Trendlines with Other Tools (Confluence) Trendlines gain much more strength when used alongside other analytical tools : Horizontal support and resistance levels Moving averages (such as EMA 50 or EMA 200) Fibonacci retracement zones Candlestick patterns (e.g., Engulfing, Pin Bar) RSI or MACD divergences Market structure breaks (BoS / ChoCH) 🔵 Settings Pivot Period : This defines how sensitive the pivot detection is. A higher number means the algorithm will identify more significant pivot points, resulting in longer-term trendlines. Alerts Alert : Enable or disable the entire alert system Set a custom alert name Choose how often alerts trigger (every time, once per bar, or on bar close) Select the time zone for alert timestamps (e.g., UTC) Each trendline type supports two alert types : Break Alert : Triggered when price breaks the trendline React Alert : Triggered when price reacts or bounces off the trendline These alerts can be independently enabled or disabled for all trendline categories (Major/Minor, Internal/External, Up/Down). Display : For each of the eight trendline types, you can control : Whether to show or hide the line Whether to delete the previous line when a new one is drawn Color, line style (solid, dashed, dotted), extension direction (e.g., right only), and width Major lines are typically thicker and more opaque, while minor lines appear thinner and more transparent. All settings are designed to give the user full control over the appearance, behavior, and alert system of the indicator, without requiring manual drawing or adjustments. 🔵 Conclusion A trendline is more than just a line on the chart—it is a structural, strategic, and flexible tool in technical analysis that can serve as the foundation for understanding price behavior and making trading decisions. Whether in trending markets or during corrections, trendlines help traders identify market direction, key zones, and high-potential entry and exit points with precision. The accuracy and effectiveness of a trendline depend on using structurally valid pivot points and adhering to proper market logic, rather than relying on guesswork or personal bias. This indicator is built to solve that exact problem. It automatically detects and draws multiple types of trendlines based on actual price structure, separating them into Major/Minor and Internal/External categories, and respecting professional analytical principles such as pivot type, trend direction, and structural location.
Pine Script® göstergesi
TFlab tarafından
7
Dynamic Touch Trendlines [QuantVue]The Dynamic Touch Trendlines (DTT) indicator automatically draws and manages trendlines on your chart, helping traders identify key support and resistance levels. What sets the DTT indicator apart from other trendline indicators is its ability to let traders customize the number of touches required to validate a trendline. This flexibility allows you to fine-tune the indicator for different markets or trading styles, ensuring only strong trendlines with the specified number of touches are considered valid. This indicator features both uptrend lines (drawn from pivot lows) and downtrend lines (drawn from pivot highs), making it suitable for detecting bullish and bearish trends. An uptrend line connects three (default setting) or more significant lows, showing where price has historically found support. Traders often look for price to bounce off this line during pullbacks in an uptrend. When price breaks below an uptrend line, it suggests a weakening of the bullish trend. This could mean that buyers are losing strength, and the market may be transitioning into a bearish phase, providing a potential opportunity for traders to enter short positions or exit long positions. Conversely, a downtrend line connects three (default setting) or more significant highs, indicating potential resistance in a downtrend. Price action below this line can signal continued bearish momentum. When price breaks above a downtrend line, it indicates a potential reversal of the bearish trend. This can signal the end of selling pressure and the beginning of a new bullish phase, offering traders a potential opportunity to enter long positions. Key settings: Minimum Touches: This sets the number of price touches required to validate a trendline. Increasing the minimum touches filters out weaker trends, ensuring that only more reliable trendlines are drawn. Buffer: The buffer is used to account for minor price overshoots or near misses relative to the trendline. It creates a margin around the trendline, allowing price to come close to the line—whether it overshoots slightly or falls just short—and still count as a valid touch. This helps ensure that small price fluctuations or market noise don’t prevent valid trendline touches from being recognized, making the trendlines more reliable. Trendline Break Source: Allows traders to define how a trendline is considered broken—either based on the close of the price bar or the wicks (highs and lows) of the price action. The DTT indicator also features alerts whenever a new trendline is detected or an existing trendline is broken!
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QuantVue tarafından
6
TrendLine Toolkit w/ Breaks (Real-Time)The TrendLine Toolkit script introduces an innovating capability by extending the conventional use of trendlines beyond price action to include oscillators and other technical indicators. This tool allows traders to automatically detect and display trendlines on any TradingView built-in oscillator or community-built script, offering a versatile approach to trend analysis. With breakout detection and real-time alerts, this script enhances the way traders interpret trends in various indicators. 🔲 Methodology Trendlines are a fundamental tool in technical analysis used to identify and visualize the direction and strength of a price trend. They are drawn by connecting two or more significant points on a price chart, typically the highs or lows of consecutive price movements (pivots). Drawing Trendlines: Uptrend Line - Connects a series of higher lows. It signals an upward price trend. Downtrend Line - Connects a series of lower highs. It indicates a downward price trend. Support and Resistance: Support Line - A trendline drawn under rising prices, indicating a level where buying interest is historically strong. Resistance Line - A trendline drawn above falling prices, showing a level where selling interest historically prevails. Identification of Trends: Uptrend - Prices making higher highs and higher lows. Downtrend - Prices making lower highs and lower lows. Sideways (or Range-bound) - Prices moving within a horizontal range. A trendline helps confirm the existence and direction of a trend, providing guidance in aligning with the prevailing market sentiment. Additionally, they are usually paired with breakout analysis, a breakout occurs when the price breaches a trendline. This signals a potential change in trend direction or an acceleration of the existing trend. The script adapts this methodology to oscillators and other indicators. Instead of relying on price pivots, which can only be detected in retrospect, the script utilizes a trailing stop on the oscillator to identify potential swings in real-time, you may find more info about it here (SuperTrend toolkit) . We detect swings or pivots simply by testing for crosses between the indicator and its trailing stop. type oscillator float o = Oscillator Value float s = Trailing Stop Value oscillator osc = oscillator.new() bool l = ta.crossunder(osc.o, osc.s) => Utilized as a formed high bool h = ta.crossover (osc.o, osc.s) => Utilized as a formed low This approach enables the algorithm to detect trendlines between consecutive pivot highs or lows on the oscillator itself, providing a dynamic and immediate representation of trend dynamics. 🔲 Breakout Detection The script goes beyond trendline creation by incorporating breakout detection directly within the oscillator. After identifying a trendline, the algorithm continuously monitors the oscillator for potential breakouts, signaling shifts in market sentiment. 🔲 Setup Guide A simple example on one of my public scripts, Z-Score Heikin-Ashi Transformed 🔲 Settings Source - Choose an oscillator source of which to base the Toolkit on. Zeroing - The Mid-Line value of the oscillator, for example RSI & MFI use 50. Sensitivity - Calibrates the Sensitivity of which TrendLines are detected, higher values result in more detections. 🔲 Alerts Bearish TrendLine Bullish TrendLine Bearish Breakout Bullish Breakout As well as the option to trigger 'any alert' call. By integrating trendline analysis into oscillators, this Toolkit enhances the capabilities of technical analysis, bringing a dynamic and comprehensive approach to identifying trends, support/resistance levels, and breakout signals across various indicators.
Pine Script® göstergesi
EliCobra tarafından
5
BE-TrendLines & Price SentimentsOverview The trendline is one of the most potent and flexible tools in trading. A rising trendline indicates an upward trend, a falling trendline indicates a downward trend, and a flat trendline indicates a range-bound bond market. Breakouts, price bounces, and reversal / Retest tactics are all types of trades that may be made using a trendline. Additionally, stop-loss and profit-trailing orders can be based on trendlines as support and resistance levels, appropriately. Technical Calculations for Trendlines & Price Sentiments: Pivot points for a specified time frame and the Prevailing High/Low for the most recent bars are used to derive trendlines. While Pivot Points alert us to price movements, High/Low tells us where Bulls and Bears find a middle ground. This provides a remarkable set of conditions from which to extrapolate the efficacy of the Trendlines. The term "price sensitivity" refers to how much a change in the price of a product causes consumers to alter their purchase habits. It's the relationship between price shifts and shifts in consumer demand. So, for example, if a 30% jump in the cost of a product leads to a 10% drop in purchases, we can conclude that the item has a price sensitivity of 0.33%. Basis the above theoretical statement, If the underlying asset's price drops, the indicator shall compute data on the amount of volume being pumped (Inflow vs Outflow) into the market (if available), or the percentage by which the price has changed. This will be compared to the recent drop rate to see if the behavior has changed at the similar value zone and non similar value zone. similar calculation shall be done if the price of the underlying rises. Traders may benefit from hearing about Trendlines in their "Story Telling" form, which we now present. To help you comprehend it better, candles are divided into three Sentiment groups based on their color. Colors: Green (with its shades), Silver, and Red (including its shades). Green signifies a Bullish Trend, Silver a neutral trend, and Red a Brearish Trend. Bullish Trend Bearish Trend Neutral Trend Sentiment Price Cycle in Trending Market: Green (Directional Bullish), Dark Green (Bullish Trend Loosing its Strength), Silver (Neutral Trend), Red (Directional Bearish), Dark Red (Bearish Trend Loosing its Strength) Sentiment Price Cycle in RangeBound Market: Green (Over Brought), Silver (Neutral) & Red (Over Sold) How to Initiate Trade when price is within TL: Fake Break Out Trade: BreakDown Trade: BreakOut Trade: Couple of Other Features in the Indicator: Single Alerts = These are the alerts where in, as and when the Event happens Alerts shall the trigerred. like On BreakOut, BreakDown, TouchOf Up TrendLine, TouchOf DownTrendLine, Retest Of Up TrendLine, Retest of DownTrendLine. Conditional Alerts = These are those type of Alerts where in you can combine 2 or 3 conditions to trigger an Alert. Like Sample 1 - After Down TL is tested for 3 times, If BreakOut happens and the setiment turns Bullish within 5 Candles. Sample 2 - After Up TL is tested for 2 times, If Price Bounces backUp from TL and the setiment turns Bullish within 5 Candles. Similarly you can customize the combination of events for getting the alert. DISCLAIMER: No sharing, copying, reselling, modifying, or any other forms of use are authorized for our documents, script / strategy, and the information published with them. This informational planning script / strategy is strictly for individual use and educational purposes only. This is not financial or investment advice. Investments are always made at your own risk and are based on your personal judgement. I am not responsible for any losses you may incur. Please invest wisely. Happy to receive suggestions and feedback in order to improve the performance of the indicator better.
Pine Script® göstergesi
TradeWiseWithEase tarafından
44
Trend Lines ProHello Traders! We need to make things better & better to solve the puzzle and I try to do my best on this way. now I am here with my new Trend Lines Pro script. As you know, Trend Lines is very subjective and many people (even professionals) draw different Trend Lines on the same chart. This is confusing and there must be an automation to make the life easer. with this tool I tried to automate it. The idea in this script is different from my previous trend lines scripts. In this, I use channel idea so it can check number of pivot points it contains, it checks H/L/C in the channels as well. it also checks the angle while choosing trend lines. then we get stronger and useful Trend Lines automatically. There are some option in the script, let see one by one: Pivot Period: The Length to calculate Pivot Highs/Lows Source : Option to use "High/Low" or "Close" as the source for Pivot Points Threshold Rate : This rate is used for channel width. it you give bigger numbers then you get bigger channels. it's 4 by default Minimum Angle Rate for new Trendline: if there are different trend lines, there must be an angle between them to choose best trend lines. you can set the angle with this option. Minimum Strength: there can be many trend lines but we need to choose/use stronger ones. with this option you can set the number of pivot points a trend channel have to contains. Maximum Loopback Length: by default the script can check 40 pivot highs and 40 pivot lows but to make the script faster and useful I needed to add a limitation for the number of bars that the script can go back. Show Trendlines as: you can see trend lines as "Trendline", "Channel", "Trend Channel". you can see examples below. Enable Weak Trend Lines: if there is no trend lines strong enough (as defined in "Minimum Strength" option) you have option to see a weak trend line. that is useful sometimes. if you enable this option weak lines are shown as dotted lines. Show Price Labels on Trendlines: the script can show the price levels to break trend lines. the examples are below Line Style: trend lines can be Solid or Dashed as you wish Color theme: colors of the Up/Down Trend lines can be set. 'Red', Lime, Blue, White, Black, Olive, Gray you can see the Trend Lines as channels: you can see Trend Channels to see the big picture.also there is dotted trend line as weak trend line defined above. you can set color/width of trend lines as you wish. the script is fast enough to run on 1sec chart: you can use this script on any chart, fx pairs, stocks, indices etc I made a short video to explain how to use it and some options: Please PM for access. Enjoy! DISCLAIMER: No sharing, copying, reselling, modifying, or any other forms of use are authorized for our documents, script / strategy, and the information published with them. This informational planning script / strategy is strictly for individual use and educational purposes only. This is not financial or investment advice. Investments are always made at your own risk and are based on your personal judgement. I am not responsible for any losses you may incur. Please invest wisely.
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LonesomeTheBlue tarafından
2.9 K
Trend Trading IndicatorThis trend trading indicator uses multiple different custom formulas to identify market trends as well as identify when the market is moving sideways. It has a master trend that will show you the trend using the color of the candles and then there are multiple different types of entry and confluence signals that will appear as different chart shapes above or below the candles to inform you about when to enter a trade and how strong the trend is so you know whether to hold a position longer or get out. There is also a panel at the bottom of the chart that shows you the trend strength for 5 different timeframes so you can easily identify the short and long term trends and scan through charts quickly to find markets with the strongest trends. The indicator can be customized to fit your trading style by adjusting the timeframes for the master trend, which timeframes affect signals, turning on or off the various entry & confluence signals, turning on or off ranging market filters and more. It can be adjusted to react quickly for intraday trading or use long timeframes for swing trading or only trading when the market is in a strong long term trend. The indicator also has a built in trend direction value that can be sent to other indicators to be used as a trend filter as well by setting the source value on an external indicator to use the trend direction value from this indicator. This is useful for preventing signals from coming in on other indicators when they go against the trend that this indicator has identified according to the settings it is configured with. How To Use This Indicator Properly This indicator is designed to only give signals when the market is trending and filter out the sideways price action for you. Due to this, depending on the timeframe settings you use, there may be extended periods where there are no signals because the market is going sideways. You can adjust your timeframe settings to react faster or slower by lowering the timeframes used and turning off some of the higher timeframes or use all of the timeframes available and only get signals when the market is in a strong long term trend for the safest trades. The indicator uses a master trend that needs to show a trend before any other confluence signals can come in. The master trend will show up by coloring the candles blue when the trend is bullish or orange when the trend is bearish according to the settings you have chosen. When the market is not trending, the candles will be colored grey. This helps to keep you out of trades when the market is going sideways. You will only be able to see the master trend by using the colored candles though, so make sure to turn the chart’s candle coloring off so it doesn’t override the indicator candle coloring. Once a trend has been established, then other signals will begin to show up if the trend is strong and various parameters are met. The indicator includes the following types of signals: Master Trend Signals Strong Trend Buy & Sell Signals Pullback During Strong Trend Signals Strong All Timeframe Trend Signals Trend Strength Score Signals The indicator also has multiple filters you can use to customize the master trend to allow more or less signals to come in. The more filters you have on, the better and more likely the signals are to be winners because it will only give signals when there are very strong trends on all timeframes. If you want a lot of signals for intraday scalping, you can turn off most of the filters and just use lower timeframes for the master trend settings. The following filters can be used to customize the trend parameters: Signals Only Allowed In Direction Of Timeframes 4 & 5 Trend Of Timeframe #1 Used For Master Trend Signals Trend Of Timeframe #2 Used For Master Trend Signals Trend Of Timeframe #3 Used For Master Trend Signals Trend Of Timeframe #4 Used For Master Trend Signals Trend Of Timeframe #5 Used For Master Trend Signals No Master Trend Signals If This Timeframe Is Ranging - #1 No Master Trend Signals If This Timeframe Is Ranging - #2 No Master Trend Signals If This Timeframe Is Ranging - #3 Make sure to keep all trend timeframes in order from 1-5 for best results, even if they are turned off. The indicator is programmed to compare each timeframe to the next one, so keeping the timeframes in order will give you proper calculations. For example: timeframes 1-5 should be 15, 60, 240, 1D, 1W or 240, 1D, 1W, 1M, 3M and so on. The indicator has alerts for bullish and bearish versions of each type of signal so you can get notified when a chart is trending strongly. Market Hours Available To Use The Indicator On The indicator works on stocks, crypto, forex and futures markets and other markets that have the same hours, you just need to select the hours that the market you are trading has in the main indicator settings to get the correct signals. There are options for stock hours(6.5 hours a day, 5 days per week), futures/forex hours(23 hours a day, 5 days per week) and crypto hours(24 hours a day, 7 days per week). Just select the correct option in the dropdown menu and the indicator will calculate based on those hours. Master Trend Settings The master trend is calculated using Timeframes 1-5, the setting for whether to use timeframes 1-5 for signals, ranging market filters 1-3 and only allow signals in the direction of timeframes 4 & 5. These settings will affect how the overall trend is calculated, which has to be trending in order for any confluence signals to come in. Set timeframe 1 to a higher timeframe than your chart is set to. For example if you trade the 1 minute or 5 minute chart, timeframe #1 needs to be set to something higher than your chart so 15, 60 or 240. Then set timeframes 2-5 to be one timeframe higher than the previous one. So if timeframe 1 is 60, then timeframe 2 should be 240 and so on. Make sure to do this even if you do not turn on each timeframe to be used for master trend signals as the higher timeframes will still affect the confluence signals. Turn on or off the toggle for each timeframe if you want the master trend to use. Keeping just lower timeframes on will give more signals for short term trends and leaving all of the timeframes on will only give signals when all of the timeframes are trending. I recommend keeping timeframes 1 & 2 on at the very least and then turning on or off timeframes 3-5 based on how many signals you want and how strong you want the trend to be in order for signals to be given. Ranging Market Filters The indicator has parameters to detect if the market is ranging or moving sideways on each timeframe and will show this by coloring the trend strength score in the bottom panel grey for that timeframe. When the market is ranging, it is best to not trade because there is no established trend. Use these filters to increase the probability of the master trend and confluence trend signals being correct and moving in the direction of the trend. If you turn on the ranging market filters, you will not get any signals if the market is detected as ranging on any of the timeframes you have turned on for the ranging market filters. You can use 1, 2 or all 3 ranging market filters to dial in the indicator to your preference. Make sure to backtest it and look at historical data to see how this will affect the indicator and choose what settings work best for your style of trading. Signals Only Allowed In Direction Of Timeframes 4 & 5 If you only want to make sure you are trading in the direction of the long term trend, turn this setting on. It will prevent the indicator from giving any signals that are not in the same direction as the long term trends and increase your probability for winning trades. This setting allows you to quickly filter out any noise that you will get from lower timeframe trends that are not in the same direction as the long term trends and helps to ensure you stick to the overall trend. Markets will usually make much faster and larger moves in the direction of the overall trend and have high resistance, choppy moves when going in the opposite direction, so this will help you avoid getting into those trades even if you don’t have timeframes 4 & 5 turned on in the master trend timeframe settings. Strong Buy & Sell Signals When the master trend detects a trending market and the trend is strong on all 5 timeframes, the indicator will show crosses on the chart meaning these are great entry points to get into the market with positions in the direction of the trend. There are 3 levels of these signals and will show as small crosses, medium crosses and large crosses. The larger the cross is, the stronger the trend is and is more likely to continue the trend. Use these strong buy & sell signal crosses as entry points and place your stop loss at the most recent major pivot. Then trail your stop loss with the trade to lock in profits. Pullbacks During Strong Trend Signals When there is a strong trend on timeframes 3-5 and a pullback on timeframes 1 & 2, then move back in the direction of the higher timeframe trend, this will fire a signal to enter a trade in the direction of the trend. These are excellent entries since the market has pulled back, allowing you to have a good entry with low potential drawdown. These signals will appear as label tag or price tag looking signals. Use these for your entries and then place a stop loss just beyond the most recent major pivot and trail your stop loss as the trade moves in your favor to lock in profits. Strong All Timeframe Trend Signals When the trend is strong on all timeframes that you have set to use for master trend signals, the indicator will show circles/dots on the chart above or below the candles. There is also a second type of strong trend calculation that it uses that will detect a strong trend in a slightly different way and that formula will paint a background color on the chart as extra confluence. When the background color and dots show up at the same time, that means both formulas are showing strong trends. Use these dots and background coloring to confirm your position and continue to hold it for more gains. Strong trends typically continue in the same direction so use these signals as extra confluence to hold your position and stay in the trade. Trend Strength Score Signals Each timeframe will have a trend strength score calculated. If you turn the visuals on in the master trend timeframe settings, they will show up as an oscillator in the bottom panel. It will show red for bearish trends and green for bullish trends and grey when the market is ranging. It will also show a label next to each timeframe telling you the score out of the maximum score for that timeframe. Pay attention to these as they will give you a very quick way to read the long term and short term trends. When all timeframes are trending strongly, the background will paint red or green to notify you of strong trends that you can trade. When the long term trends agree, but short term trends are going against the long term, look for the short term trends to reverse and use those areas as entry positions for longer trades in the direction of the overall trend. Doing this really helps to identify possible reversals and keep you from getting into those types of trades too early. Timeframes The Indicator Can Be Used On The indicator is setup to be used on the following chart timeframes: 15 seconds, 30 seconds, 1 minute, 2 minute, 3 minute, 5 minute, 10 minute, 15 minute, 30 minute, 1 hour, 2 hour, 4 hour, 6 hour, 8 hour, 12 hour and 1 day charts. If your chart is set to a different timeframe than the ones listed above, it will not calculate properly, so make sure your chart is on the correct timeframe. Markets The Indicator Can Be Used On The indicator has 3 modes for various market hours. The type of market doesn’t matter, what matters is how many hours that market is open for. Almost all markets fall under 3 types of opening hours so we have provided the ability for the indicator to calculate correctly on all 3 types of market hours. The hours it can use are: stocks(6.5 hours per day, 5 days per week), crypto(24 hours per day, 7 days per week) and futures/forex(23 hours per day, 5 days per week). You will need to update this setting from the dropdown at the top of the indicator settings to match the chart that you are on for it to calculate correctly. Filtering Other Indicators Using The Trend Direction Of This Indicator The indicator has a built in trend direction value that can be sent to other indicators and used as a filter. By setting an input.source() value on other indicators that are on the same chart as this indicator, you can set that indicator to do or not do whatever you want when this trend indicator shows a trend or not. The name of the source you can use on your external indicator is called Trend Direction To Send To External Indicators. The values it sends are as follows: 0 when there is no master trend direction, 1 when the master trend is bullish and -1 when the master trend is bearish. By using this source, you can prevent other indicators from giving sell signals during up trends, prevent other indicators from giving buy signals during down trends and prevent other indicators from giving any signals when the market is ranging or not showing an established trend. Alerts Available To Use The indicator has alerts for bullish versions as well as bearish versions of each type of signal available. Use these alerts to notify you of strong trends on markets that you may not have the charts up for at all times but still want to trade.
Pine Script® göstergesi
FriendOfTheTrend tarafından
2
Trend Lines Pro for IndicatorsHello Traders! We need to make things better & better to solve the puzzle and I try to do my best on this way. now I am here with my new Trend Lines Pro for Indicators script. As you know, Trend Lines is very subjective and many people (even professionals) draw different Trend Lines on the same chart. This is confusing and there must be an automation to make the life easer. with this tool I tried to automate it. The idea in this script is different from my previous trend lines scripts. In this, I use channel idea so it can check number of pivot points it contains. it also checks the angle while choosing trend lines. then we get stronger and useful Trend Lines automatically. There are some option in the script, let see one by one: Indicator: the indicator on which you want to see Trend lines, Predefined Indicators are: RSI, CCI(Commodity Channel Index), OBV(On-Balance Volume), Momentum, MACD, CMF(Chaikin Money Flow), External Indicator External Indicator: with this option you can use other indicators as input and get trend lines for them. - First add an indicator (such as MFI) - in "Indicator" option select "External Indicator" - click "External Indicator" option - and choose the indicator from the list Pivot Period: The Length to calculate Pivot Highs/Lows Threshold Rate: This rate is used for channel width. it you give bigger numbers then you get bigger channels. it's 4 by default Minimum Angle Rate for new Trendline: if there are different trend lines , there must be an angle between them to choose best trend lines . you can set the angle with this option. Minimum Strength: there can be many trend lines but we need to choose/use stronger ones. with this option you can set the number of pivot points a trend channel have to contains. default value is 2 Maximum Loopback Length : by default the script can check 40 pivot highs and 40 pivot lows but to make the script faster and useful I needed to add a limitation for the number of bars that the script can go back. Show Trendlines as: you can see trend lines as "Trendline", "Channel", "Trend Channel". you can see examples below. Enable Weak Trend Lines : if there is no trend lines strong enough (as defined in "Minimum Strength" option) you have option to see a weak trend line . that is useful sometimes. if you enable this option weak lines are shown as dotted lines. Show Price Labels on Trendlines: the script can show the price levels to break trend lines . the example Line Style: trend lines can be Solid or Dashed as you wish Color theme: colors of the Up/Down Trend lines can be set. Red, Lime, Blue, White, Black, Olive, Gray Indicator color: colors of the Up/Down Trend lines can be set. Red, Lime, Blue, White, Black, Olive, Gray and Yellow and last options are for length options for RSI, CCI, Momentum, MACD, CMF There are many alerts such: Support/Resistance Broken, Price in Support/Resistance channel, Support/Resistance line broken but still in a channel that means it broke S/R but there is another trend lines to break. Below an example how the script uses external indicator as input and draws trend lines on it. in this example chaikin ossilator was added to the chart and get trend lines for it. (I am going to make a short video about it) An example of Trend Channel is below. when you use trend channel option you can get "big picture" of whats going on An example for trend lines in channels, that is the idea behind this trend lines script An axample for trend lines for CCI: Trend lines on OBV: Trend lines on Momentum: Trend lines on MACD: Trend lines on CMF: Different colors and line styles: Please send me message for access and do not hesitate to ask your questions about this tool. Enjoy! DISCLAIMER: No sharing, copying, reselling, modifying, or any other forms of use are authorized for our documents, script / strategy, and the information published with them. This informational planning script / strategy is strictly for individual use and educational purposes only. This is not financial or investment advice. Investments are always made at your own risk and are based on your personal judgement. I am not responsible for any losses you may incur. Please invest wisely.
Pine Script® göstergesi
LonesomeTheBlue tarafından
827