Trend Meter

Lij_MC Updated   
Use as a supplementary Indicator to confirm your entries, but it is as good on it's own.

When you first apply the indicator to your chart make sure you shrink it down It looks a lot better that way

The indicator consists of 3 different Trend Meters and a Trend Bar which are used to confirm trend

As a bonus Possible Momentum Setup entries based on Stochastics are marked as well, these are very Powerful however please use with caution

How to Use

The more Trend meters are lit up the better

Look for Support or Resistance Levels for price to be attracted to

Find confluence with other indicators

Enter Long above the Setup Bar

Enter Short Below the Setup Bar

Release Notes:

Filter X parameters

Trend Meter Background Highlight - Filter X + 3 Trend Meter Conditions Met (Minor / Major Base Line Cross Excluded)
Release Notes:
Updated Alerts - You can see and set them properly now
Release Notes:
Fixed issue with Alerts
Release Notes:
Ability to change dot size

Background Highlight when all 3 conditions are met

Adjusted Alerts
Release Notes:
Major Update


Trend Meters - Fast MACD and RSI Signal Line Cross and RSI 13 Above or Below 50
A Second Trend Bar - Trend Bars Show MA Cross or MA direction
Lots of Alerts

All in All a much more accurate Trend Meter to confirm your trades
Release Notes:
Removed Stochastic Momentum Setups and Replaced them with Wave Trend Signals
Release Notes:
Fixed Signals - Enjoy but please Back Test
Release Notes:
Added Alert for "Any Setup" - Combines Wave Trend Setups, 3 conditions met Setups and 5 ? 11 ema crosses

This Alert is very powerful
However please remember to Long or Short only after the Setup Bar is Closed
and to have a very tight stop loss,
Stop Loss at Bottom of Setup Bar for Longs and Top of Setup Bar for Shorts.
If Price hasn't gone your way after a couple of Bars then cancel your order and wait for a new setup
Release Notes:
As Per Request Added

Alerts for Rapid Color Change for 3 trend meters
Release Notes:
Long Awaited Update

Removed a lot of non essential alerts

Added Alerts for when Trend Meters line up with Trend Bars - This has been a long standing request by the community
Release Notes:
Fixed a fault with the Alerts
Release Notes:
Updated Menu & Alerts
Release Notes:
Finally the Alerts that Everyone has been asking for!

3 Trend Meters No Longer Align - Possible exit / take profit signal

Wave Trend Signal when the 3 Trend Meters Align
Release Notes:
Added Indication for Positive or Negative Pressure based on RSI and Wave Trend
Release Notes:
Adjusted position of Pos/Neg Strength Dots
Release Notes:
Updated the Look and Function of the Trend Meter and the Menu
Release Notes:
Updated Chart
Release Notes:
Updated Chart
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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