Consensus Signal Matrix Pro [By TraderMan]

Consensus Signal Matrix Pro [By TraderMan] 🌟

What Does It Do? 📊

Consensus Signal Matrix Pro is a comprehensive technical analysis indicator designed for financial markets. 🧠 It aggregates signals from over 30 popular technical indicators (e.g., EMA, RSI, MACD, Bollinger Bands, Supertrend, Ichimoku, etc.) to provide a unified BUY, SELL, or NEUTRAL recommendation. 💡 This tool helps traders make informed decisions by consolidating signals and presenting them in a clear table format. 📈 It is particularly suited for leveraged trading (without built-in TP/SL). 🚀
How Does It Work? 🔍

Multi-Indicator Analysis 🛠️:

The indicator calculates signals from 30 different technical indicators (e.g., EMA 9/21, RSI, MACD, Supertrend, Ichimoku, Williams %R, etc.).
Each indicator generates a BUY, SELL, or NEUTRAL signal based on price action and volume data.
For example: RSI < 30 triggers a "BUY" signal, while RSI > 70 triggers a "SELL" signal. 🔔


Signal Aggregation and Consensus 🤝:

All indicator signals are collected into an array.
The number of BUY, SELL, and NEUTRAL signals is counted.
A percentage difference (percentDiff) is calculated by dividing the difference between BUY and SELL signals by the total number of indicators.
Based on this difference:

>20%: General status is GENERAL BUY. ✅
<-20%: General status is GENERAL SELL. ❎
In between: General status is NEUTRAL. ⚖️




Position Recommendation 💸:

The position type is determined based on the general status:

GENERAL BUY → LONG position recommended. 📈
GENERAL SELL → SHORT position recommended. 📉
NEUTRAL → No position (NONE). 🚫




Table Visualization 📋:

The indicator displays all signals and the general status in a table located in the top-right corner of the TradingView chart. 🎨
The table lists each indicator’s name, its signal (BUY/SELL/NEUTRAL), total indicator count, BUY/SELL/NEUTRAL counts, general status, and position type. 🖼️
Color coding is used: Green (BUY), Red (SELL), Gray (NEUTRAL), Orange (headers). 🌈



How to Use It? 🛠️

Setup ⚙️:

Copy and paste the indicator code into the Pine Editor on TradingView and compile it. 🖥️
Add it to your chart (works on any timeframe, though it uses D1 data for daily ATR). ⏰


Review the Table 📖:

Check the table displayed in the top-right corner of the chart.
Review each indicator’s signal (BUY/SELL/NEUTRAL) and the overall signal distribution.
Focus on the GENERAL STATUS and POSITION TYPE rows. 🔎


Position Opening Decision 💰:

LONG Position: If GENERAL STATUS is "GENERAL BUY" and the table shows mostly green (BUY) signals, consider opening a LONG position. 📈
SHORT Position: If GENERAL STATUS is "GENERAL SELL" and the table shows mostly red (SELL) signals, consider opening a SHORT position. 📉
NEUTRAL Status: If the status is "NEUTRAL," avoid opening a position. ⚖️


Risk Management ⚠️:

The indicator does not include Take Profit (TP) or Stop Loss (SL) levels. You must apply your own risk management strategy.
Recommended: Use ATR-based volatility (shown in the table as ATR signal) or support/resistance levels to set manual TP/SL. 🛡️


Timeframe and Asset ⏳:

Can be used on any financial asset (stocks, forex, crypto, etc.).
Works on short-term (1H, 4H) or long-term (D1, W1) charts. Evaluate signal speed based on your timeframe. 📅



How to Open Positions? 🎯

Trust the General Status: Use GENERAL STATUS (GENERAL BUY or GENERAL SELL) as the primary guide. A strong percentage difference (>20% or <-20%) indicates a more reliable signal. ✅
Check Signal Strength: Look at the table to assess the number of BUY or SELL signals. For example, if 20 out of 30 indicators signal BUY, it’s a strong LONG signal. 💪
Align with Market Conditions: Before acting, analyze the broader market trend (bullish, bearish, or sideways). For instance, SELL signals may be less reliable in a strong bull market. 📡
Combine with Other Analyses: Use the indicator alongside support/resistance levels, news flow, or fundamental analysis for confirmation. 🧩
Caution: The indicator is designed for leveraged trading but lacks TP/SL. Manage volatility and risk tolerance carefully. ⚠️

Advantages and Considerations 🌟

Advantages 😊:

Simplifies analysis by combining multiple indicators into one table.
Provides a quick overview of market direction.
User-friendly for both beginners and experienced traders.


Considerations ⚠️:

No signal is 100% accurate; markets can be unpredictable.
You must develop your own risk management strategy.
Signals may be misleading during high volatility; use additional confirmation.


Final Note 🎉:

Consensus Signal Matrix Pro [By TraderMan] is a powerful tool for traders seeking a consolidated view of multiple technical signals. 🚀 By combining diverse indicators into a single, easy-to-read table, it streamlines decision-making. However, always combine it with sound risk management and market context for the best results. 💸 Happy trading! 🤑