FriendOfTheTrend

Higher Timeframe Price Action Scanner

This is a higher timeframe scanner that detects the price action trend on multiple timeframes and displays them all as red or green dots. You’ll be able to see the real time and historical price action trends so you can trade in the same direction of the overall trend on higher timeframes. You can also set it to scan a different ticker if you choose. If you find pairs that correlate very well, you can use two scanners and look at both of them for extra trend confluence.

CALCULATIONS
This scanner uses the same price action formula from our other indicator titled 1 Minute Scalping Indicator which can be found on our profile. It has Scalp Mode and Swing Mode. Both modes use the exact same price action parameters for signals, but Swing Mode will only give signals when the price action parameters are met AND the close is higher than the previous high for bull signals or when the close is lower than the previous low for bear signals.

HOW TO USE
The top line of the scanner shows the price action trend for the current chart timeframe and the rest are using the higher timeframe that you set in the input settings. They start with higher timeframe #1 as the second line from the top and go down from there.

When most or all of the dots are green, you should be looking for long positions and when most or all of the dots are red, you should be looking for short positions.

Since this scanner is using pure price action to identify trends, it’s a reliable way to see what multiple timeframes are doing.

PAIRINGS
Use this with the 1 Minute Scalping Indicator so you can get the signals and candles colored per the price action on your chart as well as see the higher timeframe price action trend from the scanner. Using both together will help you make better trading decisions.

MARKETS
You can use this scanner on any market.

TIMEFRAMES
This scanner will scan the current chart timeframe and display the result on the top line, then the lines below that will display the results from the higher timeframes you choose in the settings. It has timeframes from 1 minute all the way up to 1 year.

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Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact FriendOfTheTrend for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Community Scripts.

Disclaimer

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.

Author's instructions

This is an affordable, premium indicator available to all Trend Friend subscribers. To get access, go to our website and sign up. https://friendofthetrend.com/

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Warning: please read before requesting access.