Trendindicator — Trading Ideas on TradingView

How To Setup & Use The Trend Trading Indicator This video gives an in depth explanation of each setting of the Trend Trading Indicator so you can understand how to set up the indicator properly and get your desired results. We cover the following: Master trend signals and settings How to configure your master trend signal timeframes correctly How to get rid of signals when the market is ranging Each type of extra signal: strong all timeframe trends, pullbacks during strong trends, trend score signals and more What timeframes and settings to use for intraday trading Customizing the settings to get the results that fit your trading style Make sure to test out your settings on various markets using historical data to ensure you have the indicator performing according to your specific parameters. If you have any questions about using the indicator or the settings, feel free to reach out to us. Happy Trading :)

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How to Build a Forex Trading Indicator How to Build a Forex Trading Indicator In the dynamic world of financial trading, understanding how to build a trading indicator is a valuable skill. This article is designed to navigate you through the essential steps of creating your own trading indicators, offering a blend of technical and practical insights to potentially enhance your market analysis and trading decisions. Understanding Trading Indicators Trading indicators are essential tools in analysing financial markets, offering traders valuable insights into market trends and potential trading opportunities. These mathematical calculations are applied to various market data points like price, volume, and sometimes open interest. In forex trading, indicators play a crucial role in analysing currency pair movements. There are several types of indicators, each serving a specific purpose: - Trend indicators help identify the direction of market movements. - Momentum indicators gauge the speed of these movements. - Volume indicators look at trading volumes to understand market strength. - Volatility indicators provide insight into the stability or instability of currency prices. While there are hundreds of indicators to choose from, some traders choose to develop their own based on their unique market observations. Basic Components of a Trading Indicator The core components of a trading indicator are price, volume, and time. These elements are fundamental in analysing market data and building various tools. - Price: The most critical component, price, is used in almost every trading indicator. It includes open, high, low, and close prices of trading instruments. Price data is essential for constructing trend-following tools like moving averages and oscillators like the Stochastic RSI. - Volume: Volume indicates the number of contracts traded in a given period. It provides insights into the strength or weakness of a market move. Volume-based tools, like the Volume Oscillator or On-Balance Volume (OBV), help traders understand the intensity behind price movements. - Time: Indicators use time periods to analyse market trends. This could be short-term (minutes, hours), medium-term (days, weeks), or long-term (months, years). Time frames influence the sensitivity of an indicator, with shorter periods typically offering more signals. Choosing the Right Data and Tools Selecting appropriate data and tools is a critical step in building effective trading indicators. For data, accuracy and relevance are paramount. Traders typically use historical price data alongside volume data. For tools, traders consider user-friendly platforms that offer robust functionality for creating and testing tools. Platforms like TradingView and MetaTrader offer extensive libraries and community support, facilitating the development of customised indicators. Additionally, programming languages like Python, C# and R, known for their data analysis capabilities, can be powerful tools for creating more complex indicators. FXOpen’s TickTrader, for instance, supports custom C#-based indicators and offers powerful backtesting tools. How to Build a Trading Indicator: A Step-by-Step Walkthrough Developing an indicator involves several key steps, each crucial to ensure the final tool is effective and aligns with your trading strategy. 1. Define the Objective Begin by clearly defining what you want your tool to achieve. Is it to identify trends, pinpoint entry and exit points, or gauge market volatility? Your objective will guide the type of indicator you develop, such as trend-following, momentum, or volatility-based. 2. Select the Formula Choose or develop a mathematical formula that your tool will use. This could be a simple moving average, a complex algorithm involving multiple data points, or something entirely unique. The formula should reflect the market phenomena you aim to capture. 3. Coding the Indicator Translate your formula into code. If using platforms like TradingView, MetaTrader or TickTrader, their scripting languages (Pine Script for TradingView, MQL4/5 for MetaTrader, C# for TickTrader) are designed for this purpose. Ensure the code is clean, well-documented, and easily adjustable. 4. Incorporate Visualisation Decide how the indicator will visually appear on the chart or in a separate window. This could be in the form of lines, bars, dots, or other graphical representations. The visual aspect should make it easy to interpret signals at a glance. 5. Backtesting Before applying your indicator in live trading, it’s crucial to backtest it using historical data. This topic is expanded on below. Testing and Refining Your Indicator Testing and refining your trading indicator is a critical phase in its development, ensuring its potential effectiveness and reliability in real market conditions. - Backtesting: This is the process of testing your indicator against historical data. Backtesting helps evaluate how it would’ve performed in different market scenarios, revealing its strengths and weaknesses. It's essential to test over various time frames and market conditions to ensure robustness. - Analysing Results: Assess the indicator's accuracy, consistency, and responsiveness to market changes. Look for patterns in its performance, such as frequent false signals or lag in response to price movements. - Refinement: Based on the backtesting results, refine your indicator. This could involve tweaking the formula, adjusting parameters like time periods or thresholds, or enhancing the visualisation for clearer signals. - Forward Testing: After adjustments, conduct forward testing in a simulated or live trading environment with real-time data. This helps verify its performance in current market conditions. Remember, no indicator is perfect; the goal is to develop a tool that consistently aids in your trading outcomes. The Bottom Line The journey of building an indicator is both challenging and rewarding. From selecting the right data and tools to carefully coding and testing your creation, each step plays a vital role in crafting an effective aid for trading decisions. For those looking to integrate their custom indicators into a professional trading environment, opening an FXOpen account offers the opportunity to leverage your unique tools in the dynamic TickTrader platform. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Trend Direction and Trading Indicator Tutorial The Tenoris Trend Indicator determines support and resistance using a proprietary method that I've not seen in other indicators. Over the last 10 days a potential gain of 15% on Bitcoin is shown on the chart. The key is knowing which Red and Green arrows are most likely to indicate the reversal of the price trend from short to long or long to short (red to green or green to red arrows and boxes). The arrows are used for trade entries and exits and the boxes in relationship to the price of a closed candle are used to predict price direction. The time frame of the chart is critical for maximizing the accuracy of the indicator. In general a 7D candle on crypto and a 30 day candle on stocks and a quarterly candle on indexes like the S&P provides the most accurate trend direction. On Bitcoin a 4H candle chart can be successfully used to determine entires for short term trades lasting a few days. In extensive back testing and live trading a gain of 10% a month or more is consistently possible. The key to using the indicator is knowing which arrows are the most indicative of a trend change. When a green candle closes above the red boxes it's likely that price is going to go from trending down to up. When a red candle closes below a green box it's likely that price will trend down. Compared to moving averages, and other directional trend indicators the Tenoris Trend Indicator is superior in detecting trend changes much earlier than other methods of technical analysis commonly used.

📊 Best Beginner Technical Indicators Technical indicators are mathematical calculations based on an asset's price and/or volume that are used to analyze market trends and identify potential trading opportunities. 📍Trend indicators: These indicators are used to identify the direction of the market's trend over a given time period. Some popular trend indicators include moving averages, trendlines, and the Average Directional Index (ADX). 📍Relative strength indicators: These indicators compare the strength of a security's price action to the strength of a market index or another security. They are often used to identify potential buying or selling opportunities based on whether a security is overbought or oversold. Examples of relative strength indicators include the Relative Strength Index (RSI) and the Stochastic oscillator. 📍Momentum indicators: These indicators measure the rate of change in a security's price over a given time period. They can be used to identify potential trend reversals or confirm the strength of a current trend. Examples of momentum indicators include the Moving Average Convergence Divergence (MACD) and the Rate of Change (ROC). 📍Volume indicators: These indicators measure the trading volume of a security over a given time period. They can be used to confirm the strength of a trend or identify potential trend reversals. Examples of volume indicators include the Chaikin Oscillator and On-Balance Volume (OBV). 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️

A 3 Day Trend Indicator A 3 day chart is very useful in terms of being able to see a major trend reversal. It eliminates the noise of daily or lower timeframe charts and shows the change in trend faster than the higher timeframes such as the weekly and monthly. Keep track of the candles and look for a higher high and higher low candle for the first signal. The USOIL chart above shows a sequence of 3 day candles that have lower lows and lower highs for the past 8 or more candles, clearly showing that the major trend is down. Short risk on oil is out of the question as long as there's no higher high and higher low 3 day candle. As soon as there's one, at least a minor change in trend can be anticipated and traders are likely to switch to short risk.