Trendfilter Chart

30 thg 10, 2024

Introduction:
The "Trend Filter Chart" indicator is a comprehensive analytical tool designed to identify market trends through a combination of various technical analysis methods. This indicator utilizes multiple moving averages, power bars, and swing volatility to determine market direction and potential entry points. By combining these elements, the indicator aids in making informed trading decisions and interpreting market movements with greater precision.

The Trend Filter Chart uses several moving averages, including the 18-period and 52-period SMAs, as well as the 8-period SMA for lows and the 10-period SMA for highs. These moving averages are crucial for identifying trends and assisting in the definition of entry points.

A central feature of the indicator is the identification of power bars and ultra bars. These color-coded bars help visualize strong market movements characterized by significant changes in the weighted price range (high-low spread) and percentage price changes. Power bars and ultra bars indicate notable market activities that suggest the involvement of large market participants.

The variable Average Volatility and GSV middle line combines various volatility measures to create a comprehensive moving average. It is formed from the average of the short-term highs and lows, along with the average volatility calculated from the highest and lowest volatility values over the past days.

This calculation allows for capturing and visualizing the current trend in market volatility. This method provides an average trend line used to assess market direction.

Another important feature is the 5-over/Below-Channel signals, which indicate when five consecutive bars trade above or below the moving averages. These signals suggest potential trend continuations or reversals, providing valuable insights for trading decisions.


The integrated color signals support traders in identifying entry opportunities and evaluating market strength.




This indicator also identifies 10 different price patterns, including MA, correction patterns, and Inside/Outside Bar patterns and some others. These patterns are filtered through trend filters to provide potential entry setups. The underlying patterns are based on concepts by Larry Williams.







Depending on the pattern, they work differently in each market. Entry points, stop loss, and profit targets should be backtested in each market, as every market has its own characteristics.
For more information on how to use the patterns, please send me a message.

Disclaimer
The use of this indicator and the generated signals is at your own risk. The author assumes no responsibility for trading decisions made based on these signals. Please be aware that trading financial instruments involves risks.

3 thg 11, 2024

Phát hành các Ghi chú

changed the TrendlineFilter and added Fill and Line Colors with Accumulation & Distributions Filter for market strength.

6 thg 1

Phát hành các Ghi chú

Some trendlines have been adjusted, and unnecessary calculations for patterns have been removed.

27 thg 2

Phát hành các Ghi chú

added a bars counter for Trading Day of Year.

27 thg 2

Phát hành các Ghi chú

language fix for Trading Day of Year - TDoY

10 thg 3

Phát hành các Ghi chú

Bug fixed related to adma pattern.