Myfractalrange Trend

24 Mei 2023

Hello Traders!

This is our main addition to MFR TradingView account: Myfractalrange Trend.

Many Trend signals exist out there, each trader has at some point created its own.
At Myfractalrange, we have developed a proprietary formula based on Price, Volume and Volatility.

Before going into how subscribers can use the Trend script, let't have a look at the different data point provided one by one:
- Bullish Trend: If the price of the asset is above this value, the asset is considered to be Bullish Trend. Default colour is green
- Bearish Trend : If the price of the asset is below this value, the asset is considered to be Bearish Trend. Default colour is red
- Neutral Trend: If the price of the asset is between the value of the Bullish Trend and the value of the Bearish Trend, the asset is considered to be Neutral Trend. Default colour is yellow

How does the script work?
The provided script is proprietary, so while the specific calculations and data sources cannot be disclosed, here is a broad explanation on how it works:
- It will retrieve the relevant data from the asset, could be volume, close, high, low, etc.
- The script will then check the length for the trend calculation of this specific asset and compute the Trend line
- From the value of this Trend line, we will then generate the "bullish" and "bearish" values
- The script will then plot the Bullish and Bearish values on the chart, the area between both being set as the Neutral area

How to use trend when trading?
When trading, understanding and utilising trends can be valuable for making informed trading decisions. Here are some key ways to use trends in trading:
- Trend Identification: Identifying the presence and direction of a trend is crucial
- Trend Following: One common trading strategy is trend following, which involves trading in the direction of the prevailing trend. In an uptrend, traders may look for opportunities to buy or go long, while in a downtrend, they may seek opportunities to sell or go short. Trend following strategies assume that trends are more likely to continue than reverse, and traders aim to capitalise on sustained price movements
- Trend Reversals: Identifying potential trend reversals is another approach. Traders may look for signs that a trend is losing momentum or showing signs of exhaustion. Traders may then consider taking contrarian positions or closing existing trades.
- Timing Entries and Exits: Trends can help with timing entry and exit points. Traders often aim to enter trades at favourable points within a trend, such as during pullbacks in an uptrend or rallies in a downtrend. This allows them to potentially capture favourable risk-to-reward ratios
- Risk Management: Incorporating trend analysis into risk management is crucial. Traders can set stop-loss orders or trailing stops based on the trend, aiming to protect profits or limit losses if the trend reverses. Position sizing can also be adjusted based on the strength or duration of a trend, with larger positions taken in strong, well-established trends
- Multiple Time Frame Analysis: Examining trends across different time frames can provide a broader perspective. Traders can look for alignment in trends across shorter-term and longer-term charts to gain confidence in their trading decisions. For example, a Trend on a daily chart may align with a Trend on a hourly chart, reinforcing the potential trading opportunity
The Myfractalrange Trend signal can be used for all the possibilities listed above

Here is an example of a Bullish Trend pattern: BTFD set up


Here is an example of a Bearish Trend pattern: STFR set up



Why use Trend in combination with other indicators, such as Hurst and probable Range?
Using Trend in combination with Hurst exponent and probable Range can provide traders with a more comprehensive view of market dynamics and potential trading opportunities. Here's how the three concepts can complement each other:
- Trend Analysis: Trend analysis helps identify the prevailing direction of the market. It provides insights into whether the market is in an uptrend (Bullish), downtrend (Bearish), or sideways consolidation (Neutral). Trend analysis helps traders align their positions with the dominant market direction, increasing the likelihood of successful trades
- Hurst exponent: Hurst exponent is a measure of the persistence or mean reversion characteristics of a time series. It provides insights into the strength and sustainability of price movements. Hurst momentum analysis helps traders understand whether the market is exhibiting trending behaviour or mean-reverting behaviour. It can help identify potential reversals or continuation patterns in the price action.
- Probable Range: The Range refers to the expected price range within which an asset is likely to fluctuate, in our case the MFR Ranges (normal and longer-term). It helps traders set realistic profit targets and stop-loss levels. By combining the probable range with the trend and the Hurst Exponent, traders can better gauge the potential extent of price movements and make more informed decisions regarding entry and exit points.

How to use these tools together?
- Confirmation and Confluence: Combining Trend with Hurst & Range can provide confirmation and confluence signals. For instance, when the trend analysis indicates an uptrend, Hurst confirms strong positive momentum and Range confirms the upside potential, it provides a stronger signal for potential bullish trades
- Timing Entries and Exits: The combination of trend analysis, Hurst and Range can assist in timing entry and exit points. For example, when trend analysis indicates an uptrend, traders can look for bullish signals from Hurst value and low of the MFR Range to identify potential entry points during pullbacks or periods of consolidation. Conversely, in a downtrend, bearish signals from Hurst at the top of the MFR Range can guide traders in identifying potential short-selling opportunities during corrective rallies
- Risk Management: The integration of trend analysis with Hurst and Range can also aid in risk management. Traders can adjust their stop-loss levels and profit targets based on the strength of the trend, its strength and its Range. Tighter stop-loss levels can be set when both trend analysis, Hurst value and Range are aligned, indicating a higher probability of trend continuation. Conversely, wider stop-loss levels may be used when conflicting signals or weakening trends are observed
By combining Trend analysis, Hurst exponent and MFR probable Range, traders can gain a more comprehensive understanding of the market's behaviour and make more informed trading decisions.


It's important to note that while Trend is a useful tool, it should not be relied upon solely for making trading decisions. It's recommended to use it in conjunction with other technical analysis tools and consider other factors such as market conditions, risk management, and fundamental analysis. Remember that the momentum indicator is just one tool among many, and it's important to consider other factors such as volume, momentum, volatility, and overall market conditions when making trading decisions. Additionally, using stop-loss orders and proper risk management techniques is crucial to mitigate potential losses.


We hope that you will find these explanations useful, please contact us by private message for access.
Enjoy!

DISCLAIMER: No sharing, copying, reselling, modifying, or any other forms of use are authorised. This script 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. Myfractalrange is not responsible for any losses you may incur. Please invest wisely.

1 Jun 2023

Nota Keluaran

We have added the possibility for users to only display Trend on Daily rather than having it featured on every single time frames.
Beside the indicator name on the left side of your screen, click on the Settings wheel icon, you shall see the clickable option: "Show only on the Daily timeframe?"