Trend Direction (OTC)

25 giu

Trend Direction (OTC)
Welcome, and thank you for your interest in the Trend Direction (OTC) indicator. This is a private, invite-only tool designed to provide a clear and objective view of market structure and trend dynamics.

Overview
The primary goal of Trend Direction (OTC) is to declutter your charts and help you visually identify the prevailing market trend through a sophisticated analysis of swing points. By automatically plotting key structural points in the market, it helps traders see the bigger picture and make more informed decisions based on classic price action principles.

This indicator is suitable for all markets (Forex, Crypto, Stocks, Indices) and works on any timeframe.

Features
Intelligent Swing Detection: Automatically identifies and plots significant market swing points.

Market Structure Labels (HH, LL, LH, HL): Get instant context on the trend's health. The indicator clearly labels swing points as Higher Highs (HH), Lower Lows (LL), Lower Highs (LH), and Higher Lows (HL), allowing you to see trend continuation and potential reversals at a glance.

Trend Dashboard: A simple, color-coded dashboard in the corner of your chart provides a real-time assessment of the trend, classifying it as "Confirmed," "Unconfirmed". This helps filter out market noise and provides an extra layer of confirmation.

Customizable Display: You have full control over the visual elements.

Adjust the sensitivity of the swing detection to focus on either short-term or long-term trends.

Toggle the visibility of trend lines and labels.

Limit the number of historical swings shown on the chart to keep your workspace clean.

Customize all colors to match your chart's theme.

How to Use
The Trend Direction (OTC) indicator is designed to be intuitive. Here’s a simple guide to interpreting its signals:

Identifying an Uptrend: Look for a consistent series of HH (Higher Highs) and HL (Higher Lows). The dashboard will likely show a "Bullish" status. A break of this pattern (e.g., the formation of an LH or LL) could signal a potential change in trend.

Identifying a Downtrend: Look for a consistent series of LH (Lower Highs) and LL (Lower Lows). The dashboard will likely show a "Bearish" status. A break of this pattern (e.g., the formation of an HL or HH) could signal that the downtrend is weakening.

Ranging or Choppy Markets: In sideways markets, you will see an alternating series of swings without clear direction. The dashboard will likely read "Neutral" or flip between "Unconfirmed" states. This can be useful for avoiding low-probability setups.

Settings
Swing Detection:

Pivot Lookback: The core setting for sensitivity. Higher values = less sensitive (major swings). Lower values = more sensitive (minor swings).

Display Options:

Show Swing Labels: Toggles the HH/LL/etc. labels.

Show Trend Lines: Toggles the zig-zag lines connecting the swings.

Show Last [X] Swings: Set to 0 to see all historical swings, or enter a number to see only the most recent ones.

Color Settings: Customize the colors of all lines and labels to your preference.

Disclaimer: The Trend Direction (OTC) indicator is a tool for analysis and should not be considered financial advice. It is designed to assist in your trading decisions, not to make them for you. Always use proper risk management. Past performance is not indicative of future results.

25 giu

Note di rilascio

Added option to change the dashboard position and size

26 giu

Note di rilascio

Updated the core logic method to identify the swing points. Improved the accuracy.

26 giu

Note di rilascio

Added option to edit the dashboard color.

17 lug

Note di rilascio

Fixed a bug in labeling and drawing line

17 lug

Note di rilascio

corrected label error

17 lug

Note di rilascio

Added multi timeframe feature