Multi-Trend is an indicator that simplifies the task of tracking market trends across up to 10 custom timeframes. With the flexibility to select your preferred timeframes, with current or any specific data in past, this indicator offers a clear visual representation of the market's direction.
For each chosen timeframe and history, Multi-Trend provides a straightforward arrow-based signal system: an upward arrow signifies a rising market, a downward arrow indicates a falling market, and a right arrow denotes a market at equilibrium. These default symbols can be effortlessly personalized to your choice of symbols or text, allowing you to tailor the indicator to your specific needs.
The trend direction is calculated using a reliable methodology based on the percentage change in the close price for the selected timeframe.
Release Notes
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Updated: the missing 'Past' keyword for historical data.
Release Notes
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Removed: code cleanup.
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Added: Now, users have the flexibility to choose between using the opening price or the previous close to calculate market trends.
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Added: Introducing a new feature - Volume trends. Now, you have the option to display volume trends, providing additional insights into market dynamics. Explore and analyze trading volumes effortlessly with this latest enhancement.
I love the simplicity of this indicator. This is a great piece of precision coding. I like how you deal with multi-timeframes in the script versus the conventional and messy TV MTF security calls. The displays of information seem more accurate and timely by comparison. Is it my imagination? Thanks for your contributions to the TV community.
Fantastic idea. Though I don’t get alot of equilibrium signals? Is there a way to change the default sensitivities?
faiyaz7283
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@AznRambo, This indicator operates by comparing the current close price of your selected timeframe with the close price of the immediately preceding candle. An 'Equilibrium' signal, indicating an unchanged market, is generated when these prices are equal. The sensitivity of this calculation is fixed and not adjustable. You can review the specific comparison process in the script at line 197: ```dsplyVal = c > c1 ? up : (c < c1 ? down : neutral).```