Trendlines 2x ver. 5 plus GMMA modifiedthis is a copy of "Trendlines 2x +" Script by Lij_MC (but converted to Version 5 of Pine script), which draws trendlines from the pivot points in the price chart and also add some arrows from "Guppy Multiple Moving Averages" Indicator by optictropic for trend confirmation.
I Change this code from Pine script 4 to 5 to add some functionalities to it.
Some adjustments of parameters have been made by me to easy recognition of Trendline breaks.
These parameters are in the original code, but I make them default for nicer look of the indicator and easier recognition of Trendline breaks.
for example, breaking the primary trendlines are shown by color change of the candles and in the same time by a Break symbol as a label.
breaking the secondary trendlines are shown only by candle color. Extension of the secondary trendlines are set to 50 candles to better recognize the past trendlines .
color candles are set to default to easily see the trend direction of the chart.
I have also added some arrows by the help of "Guppy Multiple Moving Averages" indicator by optictropic, that can be used for confirmation of trend direction.
I think this can represent good looking trend direction and trendline breaks can help traders for a better trade decision.
for better trading with this indicator, buy when you have green or lime color for candles, and GMMA gives UP long arrow signals, check higher time frames, and at last, this is only a help but not a final decision making indicator. you must have your own price action analysis.
best wishes
Cari dalam skrip untuk "trend"
Trend & Time Reset Indicator (TTRI)
TTRI (Trend & Time Reset Indicator) is an indicator based on the consecutive candles trend and time to identify the beginning and the end of the trend.
It is not meant to be a one-size-fits-all indicator for trading (Just Buy or Sell signal), it is an indicator for traders who have taken the time to fully understand its features such as trend reset, trend expansion and so on.
An important element of TTRI based on time is, for example, that as it gets closer to the Top/Bottom in a daily time frame, it becomes a single trend and continues to an extended trend. In a weekly time frame, it is an organic instance where TTRI trend begins and the duration of the trend increases over time. In addition, traders can use the proposed moment when the trend can be reset to strategically structure trading cycles.
TTRI indicatior is useful in all time frames and traders can select the time frame that provides the clearest TTRI (Top and Bottom) by considering the liquidity of the asset.
All education on the features of TTRI indicator will be provided through separate videos in my Telegram community space (see Instructions) and I hope to regularly research and provide discoveries for better trading with users.
As there is no single publicly available information resources that explains everything about the code of TTRI indicator, I will explain the functionality of TTRI indicator through the charts below.
TTRI indicator suggests the beginning and end of a trend using arrow signals displayed at the top of the candles. Green arrows indicate an upward trend and red arrows indicate a downward trend. These arrows are accumulated for past trend analysis. Yellow arrows are also displayed at the top of the previous candle to indicate that a trend reset is imminent, and this is also accumulated.
When the signal that proposes trend changes has a high level of reliability, the text 'P' will be displayed above the arrow.
If the trend is extended, it can be identified by consecutive numbers, and if the second trend is consecutively extended, it will be easily distinguished by displaying it as '2'. (If the trend extension continues, the reset signal will also be numbered in order 1,2,3.. accordingly) Obtained the next bottom signal from TTRI Top, the price has dropped by about 25% until then.
When yellow candlesticks with no shadows appear, it means that the probability of a trend reset signal appearing is high. It can be useful to trade according to the proposed trend change point.
As the number of candles increases, it indicates a stronger trend, and there is a tendency for the length and shape of later candles that reach TTRI signal condition to be affected by the length of the middle 5 candles.
To clearly identify the shape of closing candlesticks and the trend resistance/support levels, the candlestick numbers are arranged below the candles so that they do not interfere, and they are arranged in an area that does not overlap with the trend extension signal.
To reduce unnecessary noise signals, the candlestick numbers and reset signals for 70 candlesticks are displayed, and the signals in the area you want to confirm can be obtained clearly by not displaying the numbers for all candlesticks. (When you move to the area you want to confirm, you can check the numbers and signals for the 70 candlesticks in that area.)
There are two types related to trend extension, one is signal A which is more sensitively responding and the other is signal C which is displayed based on conditions after the trend extension is sufficiently progressed. The number of candles in the series of an extended trend can be hidden and only the trend switching signals A, C (Buy & Sell) can be selected to display.
The chart below is a daily Uber chart. After the breakout of TTRI resistance trend level, an extension is in progress and an extension A is printed with a warning, alerting for a topping.
Risk line is formed from the trend extension candles, TTRI Bottom/Top which is followed by the extended trend has a set of rules that are correlated with trend support/resistance level, detailed explanation of this will be provided in a separate video for those who have purchased access.
In the mode that only trend reset signals (Top/Bottom) are displayed, the table function below is useful. Users can directly check the status of TTRI progress in the upper time frame in the current frame.
The default time frame of the table is month, week, 3day, day, and the table position and hiding feature are user-selectable.
The diamond at the top of the candlestick, which is formed by the combination of the shape of the price-based candlestick (such as dragonfly doji types) and time-based TTRI indicator, suggests that the trend can be strongly progressed in one direction. Weakness is indicated in red, strength is indicated in green.
*Disclaimer : TTRI signals do not guarantee absolute profits through buy/sell calls. Traders must evaluate TTRI signal for a series of trends that move organically and time-frame-by-frame
A signal expands into consecutive trends and becomes a single trend on higher time frames, are you ready to enjoy the changes of the wave?
“A rising tide lifts all boats”
I express my gratitude to Tone Vays for sharing methods of actively thinking about establishing trading criteria and risk management (Completing Trader Advanced course on site in Hongkong) and sincerely thank Mr. Vngvar for providing the knowledge to build TTRI.
"With sincere gratitude to all, i wish for laughter and blessings to always be abundant for you and your family"
Trend Following based on Trend ConfidenceThis is a Trend Following strategy based on the Trend Confidence indicator.
The goal of this strategy is to be a simple Trend Following strategy, but also to be as precise as possible when it comes to the question 'how confident are we that a linear trend is ongoing?'. For this we calculate the 'confidence' of a linear trend in the past number of closing prices. The idea of this strategy is that past a certain confidence, the ongoing linear trend is more likely to continue than not.
Trend Confidence:
The Trend Confidence shows us how strong of a linear trend the price has made in the past number (given by Length parameter) of closing prices. The steepness of the price change makes the Trend Confidence more extreme (more positive for an uptrend or more negative for a downtrend), and the deviation from a straight line makes the Trend Confidence less extreme (brings the confidence closer to 0). This way we can filter out signals by wild/sudden price moves that don't follow a clear linear trend.
Math behind the Trend Confidence:
A linear fit is made on the past number of closing prices, using Ordinary Linear Regression. We have the steepness of the linear fit: b in y=a+bx . And we have the standard deviation of the distances from the closing prices to the linear fit: sd . The Trend Confidence is the ratio b/sd .
Entries and Exits:
For entry and exit points we look at how extreme the Trend Confidence is. The strategy is based on the assumption that past a certain confidence level, the ongoing linear trend is more likely to continue than not.
So when the Trend Confidence passes above the 'Long entry" threshold, we go Long. After that when the Trend Confidence passes under the 'Long exit' threshold, we exit. The Long entry should be a positive value so that we go Long once a linear uptrend with enough confidence has been detected.
When the Trend Confidence passes below the 'Short entry' threshold, we go Short. After that when the Trend Confidence passes above the 'Short exit' threshold, we exit. The Short entry should be a negative value so that we go Short once a linear downtrend with enough confidence has been detected.
Default Parameters:
The strategy is intended for BTC-USD market, 4 hour timeframe. The strategy also works on ETH-USD with similar parameters.
The Length is arbitrarily set at 30, this means we look at the past 30 closing prices to determine a linear trend. Note that changing the length will change the range of Trend Confidence values encountered.
The default entry and exit thresholds for Longs and Shorts do not mirror each other. This is because the BTC-USD market goes up more heavily and more often than it goes down. So the ideal parameters for Longs and Shorts are not the same.
The positive results of the strategy remain when the parameters are slightly changed (robustness check).
The strategy uses 100% equity per trade, but has a 10% stop loss so that a maximum of 10% is risked per trade.
Commission is set at 0.1% as is the highest commission for most crypto exchanges.
Slippage is set at 5 ticks, source for this is theblock.co.
Multi MA Trend Following Strategy TemplateTrend following is one of the better known technical trading strategies. But, which trend should you follow? Today I am sharing with the community a trend following template script that includes a selection of over 20 different trends / regressions. Some of these are in the Pine library, and some have been custom coded and contributed over time by the beloved Pine Coder community.
How it works:
This template will plot any of the 20+ trends that you can select in the settings. The strategy component will buy if the trend line is moving up, and will sell if it moves down. If the line is green that indicates that the trend is higher than the prior bar. If the line is red that indicates that the trend is lower than the prior bar. This script is different from many moving average scripts in that it follows the trend itself and doesn't look for a cross of multiple trends.
How to use it:
When wanting to trend follow an instrument, you can use this template to help identify what approach you might want to take and/or which indicator you might want to use. You can also modify the strategy as you see fit and make use of the 20+ incorporated indicators. Incorporate your trade and risk management strategy, or use it as an indicator.
Disclaimer: Open source scripts I publish in the community are largely meant to spark ideas that can be used as building blocks for part of a more robust trade management strategy. Even though this example script might beat buy and hold over the back-test time-frame, I wouldn't advise using it as a stand-alone strategy without significant additions/modifications to the strategy and risk management functions.
Trending/RangingThis script is a useful tool to use to identify the current market. It includes three other indicators:
1. ATR (combined with a SMA of the ATR)
2. ADX
3. RSI
It allows you to filter for when the market is trending vs. when the market is ranging by using any of the three indicators. You can also combine them to find extremely good trends to trade, or if you're a channel trader, identify when you wouldn't want to trade. This indicator also includes a time frame setting to allow you to ZOOM OUT and explore the long term trend of the security you are trading. I highly recommend using this indicator as a filter for when you enter a trade or not depending on the system you like to trade.
Trend Stability (Expo)
Trend Stability (Expo) is a multifunctional trend trading tool that identifies all aspects of trend trading. The indicator helps traders to stay on the right side of the market, identify retracements, reversals, and trend strength. In addition to that, we have added momentum - moves for traders that want to do trend scalping. The candle coloring displays the current trend and gives early signs of trend reversals and retracements.
➤ All in one trading tool that filters out noise and leaves us with insights that matter.
Real-Time with Alerts
No Repainting
Works on any market and in any timeframe
HOW TO USE
Use the indicator to gain insights into all aspects of trend trading:
Trend Stability/equilibrium
Trend Strength
Trend Retracements
Trend Reversals
Trend Filter
Momentum Moves
INDICATOR IN ACTION
4-hour chart
The setting used on the chart below displays negative momentum-moves with a noise-free positive trend.
I hope you find this indicator useful , and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
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Disclaimer
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/strategies/ideas are only for educational purposes!
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
Trendy Bar Trend Color LiteLite version of the original Trendy Bar Trend Color
This will only color the candlestick body of your chart
Can be used with solid, hollow, renko, or any other chart type
Custom coloring for Highs, Lows, and consolidation is removed
Trends & RangesTrends & Ranges uses EMA ATR bands as a SuperTrend indicator.
How to use:
This indicator can be used to give you a direction bias, with the added function to create ranges which often lead to reversals or flat trading periods. Trade the break-out or wait for pull backs in the direction of the trend.
I'm not great at explaining stuff and will probably make things only more complicated, so I won't bother for now,
but if you have a question on how the script works I will gladly give it a try.
The option "Flexible Trends" will disable the min/max function (trailing or non trailing).
Flexible Trends enabled:
Flexible Trends disabled:
Settings are not optimized for any asset or time frame, you will have to do that for yourself. Feel free to share them in the comments.
Thanks for showing interest, enjoy and good luck! :)
Trend Following Moving AveragesWhile analysing a chart, one of the biggest problem is to see if there is trend or not. While thinking about it, I found the idea to analyse moving averages in channel and their momentum according to channel width. I already published it as Trend Following Bar as you see at bottom of the chart.
How it Works?
On each bar it creates a channel by highest/lowest point of a MA. highest point is upper line and lowest point is lower line of the MA channel,
It gets highest and lowest point of last 300 bars, (say Price Channel )
If the width of MA channel is greater than certain rate of price channel then it decides there is trend
After it decided there is trend, it calculates the rate between channel and MA. Bigger result means stronger trend.
According to rate of MA channel and the price channel , MA Line becomes lighter/darker. so when you look at the MA Line's color you can see the trend strength.
Some details about my idea:
Options:
You can choose following MA types as source: EMA, SMA , RMA, WMA , VWMA
"Period to Check Trend" is the period to create MA channel. Bigger period cause more sensitivity.
"Trend Channel Rate %" is rate of price channel . Price channel created by using highest/lowest of last 300 bars. I did this to make the script works on all time frames correctly.
"Use Linear Regression" is used to get rid of noise. it may cause 1-2 bars latency.
Trend Following Bar script:
All comments are welcome!.
Enjoy!
Trend spider glueThis script works on all market types.
This script will show you when to long, short, exit (stop loss) and Take profit.
Signals take into account various elements such as momentum, volume , moving averages and long term trend analysis. Stop loss function is included to show you when a signal is invalidated.
Use this strategy strictly, patiently and with discipline to prevent unneeded losses, this will result in long term consistent profits.
This script has been set to work best on the intraday time frames, however it also works on the longer timeframes. Use the settings tab to dilute the indicators to ur own market.
Lastly, this indicator will not give signals if the market is not trending.
PM me here to get a free trial for the indicator !
HAPPY TRADING <3
Version 2 will be coming soon which will integerate more elements to allow for more accurate signals and faster stop losses !
disclaimer: although this indicator is taking many elements into account and is highly accurate the market is never certain, we are not responsible for any losses the script may result in as we are not financial advisors.
Trend Following BarWhile analysing a chart, one of the biggest problem is to see if there is trend or not. While thinking about it, I found the idea to analyse moving averages in channel and their momentum according to channel width.
How it Works?
On each bar it creates a channel by highest/lowest point of a MA. highest point is upper line and lowest point is lower line of the MA channel,
It gets highest and lowest point of last 300 bars, (say Price Channel)
If the width of MA channel is greater than certain rate of price channel then it decides there is trend
After it decided there is trend, it calculates the rate between channel and MA. Bigger result means stronger trend.
According to rate of MA channel and the price channel, bar color becomes lighter/darker. so when you look at the bar color you can see the trend strength.
Some details about my idea:
Options:
You can choose following MA types as source: EMA, SMA, RMA, WMA, VWMA
"Period to Check Trend" is the period to create MA channel. Bigger period cause more sensitivity.
"Trend Channel Rate %" is rate of price channel. Price channel created by using highest/lowest of last 300 bars. I did this to make the script works on all time frames correctly.
"Use Linear Regression" is used to get rid of noise. it may cause 1-2 bars latency.
All comments are welcome!.
Enjoy!
Trend Follower - Light Mode | jhFollow up script for my Trend Follower script.
I'm used to dark mode, so I coded a few key plots in white, so those are changed into black on the script.
Notably:
- > 1 ATR in black dots along the baseline
- Current and previous ATR text labels to the right of the price
- A text label spacing input that allows you to adjust the spacing for text label from price.
This is a trend following system that combines 3 indicators which provide different functionalities, also a concept conceived by VP's No Nonsense FX / NNFX method.
1. Baseline
The main baseline filter is an indicator called Modular Filter created by Alex Grover
- www.tradingview.com
- Alex Grover - Modular Filter
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That's the moving average like baseline following price, filtering long and short trends and providing entry signals when the price crosses the baseline.
Entry signal indicated with arrows.
2. Volume/Volatility, I will called it Trend Strength
The next indicator is commonly known as ASH, Absolute Strength Histogram.
This indicator was shared by VP as a two line cross trend confirmation indicator, however I discovered an interesting property when I modified the calculation of the histogram.
- Alex Grover Absolute Strength
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My modification and other info here
- Absolute Strength Histogram v2
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I simplified the display of the trend strength by plotting squares at the bottom of the chart.
- Lighted Squares shows strength
- Dimmed Squares shows weakness
3. Second Confirmation / Exits / Trailing Stop
Finally the last indicator is my usage of QQE (Qualitative Quantitative Estimation), demonstrated in my QQE Trailing Line Indicator
- QQE Trailing Line for Trailing Stop
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Three usages of this amazing indicator, serving as :
- Second trend confirmation
- Exit signal when price crosses the trailing line
- Trailing stop when you scaled out the second trade
This indicator is plotted with crosses.
Additional plots and information
Bar Color
- Green for longs, Red for shorts, White when the baseline direction conflicts with the QQE trailing line direction
- When it's white, it's usually ranging and not trending, ASH will also keep you off ranging periods.
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ATR Filter
- White circles along the baseline, they will show up if the price has moved more than one ATR from the baseline
- The default allowance is 1 ATR.
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The previous and current ATR value
- Label on the right side of the chart showing the previous and current value of ATR
TrendLines with AlertsThis isn't my own work, hence giving it in Open Source library for others to benefit from it too.
I have tried to refin the output of trendlines in this Strategy
The original Code is available at
The script needs some modifications, so I'll be making further updates in future, but for now I'm publishing this because most people don't know how to track trandlines, moreover, some use Line.New() by tradingview Pinescript, which again is a bit difficult to deal with.
This script is a basic version of trendlines on a certain angle (anglecheck was provided by the original author in his script).
Nothing fancy in this script.
Also Converted the original Script to Pinescript v4.
Trendlines 2x +Copy of "Trendlines - JD" script by Duyck, which draws Trendlines from the pivot points in the price chart.
I have simply Doubled the amount of Trendlines, so now there are;
A Primary set of Trendlines at a higher lookback length and Thicker Line Width
and
A Secondary set of Trendlines at a Lower lookback length and Thinner Line Width
The default values work well when comparing multiple time frames at 3x time difference, play around with these values for other x time variations
I have also simplyfied the Trendline Extension Function to make it more user friendly
Please use the Alerts with caution as the Trendline Break function still needs to be optimised
Also included are Trend Candles to color the bars according to momentum, Trencandles script is a copy of UCS_Trend by ucsgears
Trend Trader (by JamieSteele)This strategy uses a multi-time-frame approach to trading.
A longer-term set of moving averages represents the Weekly (long-term) Trend.
The current trend represents the intermediate-term trend.
A 10 period exponential moving average represents the short-term trend.
The system trades in the direction of the long-term and intermediate term trend,
and enters trades on pullbacks counter to these trends.
The daily bars are colored based upon their intermediate term trend.
Red=Down Trend, Green=Up Trend.
For short-side trades, we look to capture small, consistent profits. This is necessary
given the extreme manipulation by governments' central banks in an effort to prop-up their
stock markets to give an appearance of an economy that is better than actually exists.
These governments look to limit all downside moves, so we capture small profits and then
re-short after the market resets.
For long-side trades the system stays in the trade until the trend is proven to be over.
Given the extreme valuations present in world markets today, extreme caution should be taken
on all trades, especially long-side trades. Use of derivatives are preferred (e.g. options,
which can be used to limit downside risk.) Naked put selling should be avoided, since huge
losses are possible selling naked puts in a market that is very overdue for a crash/large
price decline.)
Trend tracking strategy of proprietary traders-RabbitThis is my latest strategy integration. It is a combination of trend tracking strategy and visualization trend. I believe it will bring you a clear trend discrimination and relatively reliable trading signal hints.
(Note: This strategy parameter has special parameter debugging and Optimization for BTC1h/BIANACE Heikin-ashi chart. It works best here. Other trade pairs or parameter versions of investment targets will be published specially if necessary.)
Statement of strategy concept:
The concept of strategy is trend tracking. The formation and continuation of trend is the product of speculation market for thousands of years. There are various strategies including CTA trend strategy, shock regression strategy, grid strategy, Martin strategy, Alpha strategy and so on. These strategies have their own merits just like different schools of Chinese knight-errant. Choose one, a master is not able to do hundreds of tricks, but to practice one trick thousands of times.
Every strategy has its own right and wrong. Trading is not violence, but a process of advancing, retreating, and making profits steadily. Therefore, the use of trend tracking strategy must overcome greed in human nature, profit and loss homology, dare to bear the shock of withdrawal in order to make a big profit when the real trend arrives. (Of course, this strategy has largely avoided filtering shocks, which will be explained later.)
Policy-building instructions:
Any trend tracking strategy can produce good results when there is a trend, so judging whether a trend strategy is good or bad depends on its withdrawal performance when it is shaking. This CTA trend tracking strategy uses Kauffman adaptive algorithm, fractal adaptive dimension, self-research algorithm and other tools, and has largely avoided filtering the signal in the shock without delay to follow the trend.
Additional notes for the new version:
The latest integrated version has increased the visualization of trends. It can clearly distinguish the trend of ups and downs or consolidation shocks based on chart color. However, trading signals are not calculated according to color changes, but the visualization helps you identify trends and signals help you to refer to sales.
This is only a simple trading signal strategy, and the other warehouse management and risk control need manual completion operation.
(Note: This strategy parameter has special parameter debugging and Optimization for BTC1h/BIANACE Heikin-ashi chart. It works best here. Other trade pairs or parameter versions of investment targets will be published specially if necessary.)
Good luck to all of you and a smooth deal.~
TrendMaster Premium ©Trendmaster Premium©
We are proud to release the final version of Trendmaster Premium©. This indicator is the result of months of development between @TrendmasterTM and @Crypto_C00kie.
Trendmaster Premium© is a Trend following system that provide entries, exits and stop loss placement. It is extremely simple to follow and we have experienced outstanding results.
When purchasing Trendmaster Premium© you will receive access to the indicator suite and access to our private members discord group.
Discord: The discord channel is a place where traders can discuss ideas and share content.
It includes
Bots – The discord channel currently has two bots that constantly scan Binance for signals. They will alert you by notification of any BTC pair that has printed a signal candle. Currently the bots report D1 and H4 signals as these are the time frames the indicator is designed for. These are designed to alert you to possible trades and should NOT be blindly traded from.
Chat – Several chat servers offering educational resources, guidance on how to use the indicator and chart/idea sharing.
The mandatory Legal bit:
@IchimokuScholar and @Crypto_C00kie wish you the best of luck in achieving your trading goals. Please apply appropriate risk management.
Any form of trading has large potential rewards but also large potential risks. The Purchaser must be aware of those risks and be willing to accept them. Don't trade with money that you, the Purchaser cannot afford to lose. No representation is being made that you are guaranteed positive results. The past performance of any trading methodology is not necessarily indicative of future results. Trading involves high risks. Neither @TrendmasterTM or @Crypto_C00kie are responsible for any trades that you, the Purchaser take. All trades taken are entirely at the Purchasers own risk. Refunds are neither offered nor implied.
1 HOUR Trend Friend (BTC)Trend Friend V.1.
-The Trend Friend indicator is tuned for 1 HOUR timeframe (BTC) only to capture the overall trend.
-Signals are meant to be possible entries and profit taking opportunities
-No strategy is 100%
-Fib Band width can be adjusted for instrument and volatility
ABOVE BASIS (Uptrend)
Long signals = buy and hold bias
Short signals = take profit OR scalp opportunities
Price drops below basis, exit Long position
BELOW BASIS (Downtrend)
Short signals = Short and hold bias
Long signals = take profit OR scalp opportunities
Trend BarsThis trading tool identifies when price is in a range and when the trend is established from.
Exclusive for our members.
io-trend-follow (1.0)Trend Follow script to be used across all market instruments and timeframes.
Now you can display long only, short only or both signals.
TREND barcolorsThe Donchian values are basically from Ed Sekoytas original statistical run, that gave the values 30 & 120 (aren't as relevant today, but still packs a punch).
The idea of this code is just to take that 30, add a very simple inset of it, with ATR, and color code the bar Green or Red to indicate the direction of the trend. When a new break of the 120 line, (thick line) higher or lower, it typically indicates a bigger bias towards the trend.
It's my first publish, and so a very simple easy to understand system.
Use at your own risk. I cannot be held liable for any damages financial or otherwise, directly or indirectly related to using this script.
Trend Following with Mean Reversion - IndicatorTrend Following with Mean Reversion Indicator
A comprehensive technical analysis tool that combines trend detection with momentum reversal signals for enhanced market timing.
Strategy Overview:
This indicator identifies high-probability entry points by combining two proven technical concepts:
Trend Following: Uses Exponential Moving Average (EMA) to determine market direction
Mean Reversion: Utilizes RSI oversold/overbought levels for optimal entry timing
Key Features:
📊 Core Indicators:
Customizable EMA for trend identification (default: 50 periods)
RSI momentum oscillator with adjustable overbought/oversold levels
Visual trend direction indicators
🎯 Signal Generation:
BUY Signals: Generated when price is above EMA (uptrend) AND RSI is oversold (<30)
SELL Signals: Generated when price is below EMA (downtrend) AND RSI is overbought (>70)
Clear visual labels on chart for easy identification
⏰ Advanced Time Management:
Customizable trading session filter (default: 0700-1500)
Multiple timezone support (GMT-8 to GMT+13)
Individual day exclusion controls (weekends excluded by default)
Visual background coloring for time restrictions
🎨 Visual Elements:
Color-coded trend indicators
RSI extreme level background highlighting
Time filter status visualization
Comprehensive information table showing current market conditions
🔔 Alert System:
Built-in alerts for valid entry signals
Notifications for signals occurring outside trading hours
Customizable alert messages
How It Works:
Trend Filter: EMA determines if market is trending up or down
Momentum Confirmation: RSI identifies when price has moved too far and is due for reversal
Time Validation: Ensures signals only occur during specified trading hours
Visual Confirmation: Clear BUY/SELL labels appear only when all conditions align
Best Use Cases:
Swing trading on higher timeframes (4H, Daily)
Counter-trend entries in strong trending markets
Combining with other technical analysis tools
Educational purposes for understanding trend/momentum relationships
Customization Options:
Adjustable EMA and RSI periods
Customizable overbought/oversold levels
Flexible time and day restrictions
Toggle visual elements on/off
Multiple display themes
Note: This is a technical analysis tool for educational and informational purposes. Always conduct your own analysis and consider risk management principles. Past performance does not guarantee future results.
Trend Direction (OTC)Trend Direction (OTC)
Welcome, and thank you for your interest in the Trend Direction (OTC) indicator. This is a private, invite-only tool designed to provide a clear and objective view of market structure and trend dynamics.
Overview
The primary goal of Trend Direction (OTC) is to declutter your charts and help you visually identify the prevailing market trend through a sophisticated analysis of swing points. By automatically plotting key structural points in the market, it helps traders see the bigger picture and make more informed decisions based on classic price action principles.
This indicator is suitable for all markets (Forex, Crypto, Stocks, Indices) and works on any timeframe.
Features
Intelligent Swing Detection: Automatically identifies and plots significant market swing points.
Market Structure Labels (HH, LL, LH, HL): Get instant context on the trend's health. The indicator clearly labels swing points as Higher Highs (HH), Lower Lows (LL), Lower Highs (LH), and Higher Lows (HL), allowing you to see trend continuation and potential reversals at a glance.
Trend Dashboard: A simple, color-coded dashboard in the corner of your chart provides a real-time assessment of the trend, classifying it as "Confirmed," "Unconfirmed". This helps filter out market noise and provides an extra layer of confirmation.
Customizable Display: You have full control over the visual elements.
Adjust the sensitivity of the swing detection to focus on either short-term or long-term trends.
Toggle the visibility of trend lines and labels.
Limit the number of historical swings shown on the chart to keep your workspace clean.
Customize all colors to match your chart's theme.
How to Use
The Trend Direction (OTC) indicator is designed to be intuitive. Here’s a simple guide to interpreting its signals:
Identifying an Uptrend: Look for a consistent series of HH (Higher Highs) and HL (Higher Lows). The dashboard will likely show a "Bullish" status. A break of this pattern (e.g., the formation of an LH or LL) could signal a potential change in trend.
Identifying a Downtrend: Look for a consistent series of LH (Lower Highs) and LL (Lower Lows). The dashboard will likely show a "Bearish" status. A break of this pattern (e.g., the formation of an HL or HH) could signal that the downtrend is weakening.
Ranging or Choppy Markets: In sideways markets, you will see an alternating series of swings without clear direction. The dashboard will likely read "Neutral" or flip between "Unconfirmed" states. This can be useful for avoiding low-probability setups.
Settings
Swing Detection:
Pivot Lookback: The core setting for sensitivity. Higher values = less sensitive (major swings). Lower values = more sensitive (minor swings).
Display Options:
Show Swing Labels: Toggles the HH/LL/etc. labels.
Show Trend Lines: Toggles the zig-zag lines connecting the swings.
Show Last Swings: Set to 0 to see all historical swings, or enter a number to see only the most recent ones.
Color Settings: Customize the colors of all lines and labels to your preference.
Disclaimer: The Trend Direction (OTC) indicator is a tool for analysis and should not be considered financial advice. It is designed to assist in your trading decisions, not to make them for you. Always use proper risk management. Past performance is not indicative of future results.
