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
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Adjusted;
Filter X parameters
Trend Meter Background Highlight - Filter X + 3 Trend Meter Conditions Met (Minor / Major Base Line Cross Excluded)
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Updated Alerts - You can see and set them properly now
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Fixed issue with Alerts
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Ability to change dot size
Background Highlight when all 3 conditions are met
Adjusted Alerts
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Major Update
Added;
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
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Removed Stochastic Momentum Setups and Replaced them with Wave Trend Signals
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Fixed Signals - Enjoy but please Back Test
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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
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As Per Request Added
Alerts for Rapid Color Change for 3 trend meters
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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
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Fixed a fault with the Alerts
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Updated Menu & Alerts
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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
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Added Indication for Positive or Negative Pressure based on RSI and Wave Trend
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Adjusted position of Pos/Neg Strength Dots
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Updated the Look and Function of the Trend Meter and the Menu
Awesome indicator!, i am newbie in pine script, and I wanted to ask you how can make an Alert Condition with only: Signals 2 (all 3 trend meter now alligned), and trend bar 1 (thin line), and trend bar 2 (thin line). Thanks very much for your help my friend.
Lij_MC
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@rolopsionic, Thank you, you are most welcome Sorry I'm not quite sure what you mean by Signals 2?
LowRunner0901
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@Lij_MC, I was going to ask you the same question. Do you have a pine script to test entry (All three trends meters align and both trend bars align) and exit once one of those signals come off? Love your indicator, I have done great with this and wanted to thank you...
qwak33
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Very useful indicator to keep the charts clean! I use it quite a lot recently. Could you please add another option to the Trend Bar 2 Settings so I could select "MACD Zero line" to see whether the MACD is under or above the zero line? It would be more useful than another Moving Average for me while testing my strategies. Thank you for considering my request and keep up the great work! Cheers!
cryptocoho
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And by the way, here you have some coins for the work and updates!
cryptocoho
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@cryptocoho, I really appreciate your work on this one! Amazing indicator. How do you set alerts for when all dots green or all dots red? I'd really appreciate an answer!
vybztrading
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@cryptocoho, right click the indicator in the object tree or press 3 dots, then press add alert to said indicator, then you should be able to modify the alert settings from there.
Boelz
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And here are also some coins for this inciator. :)