Polytrends Free

3 giorni fa

Polytrends Free - Technical Analysis Indicator Documentation
Overview
Polytrends Free is a comprehensive technical analysis indicator that identifies price trends, support/resistance levels, and containment patterns on trading charts. It uses advanced zigzag analysis to detect trend reversals and automatically draws key levels that traders can use for decision-making.
Key Features
Trend Analysis

Zigzag Pattern Detection: Automatically identifies significant highs and lows to create a clean trend visualization
Multi-Timeframe Support: Analyze trends from any timeframe while viewing on your preferred chart timeframe
Trend Direction Alerts: Real-time notifications when trend direction changes

Support & Resistance Levels

Automatic Level Detection: Identifies key horizontal support and resistance levels based on historical price action
Smart Level Filtering: Option to show only the most relevant levels to avoid chart clutter
Customizable Level Count: Control how many support and resistance levels are displayed

Containment Analysis

Range-Bound Detection: Highlights when price is trading within defined boundaries
Visual Containment Alerts: Color-coded system to show when price breaks out of or remains within established ranges

How to Use
Getting Started

Add the Indicator: Apply Polytrends Free to your chart from the indicators menu
Configure Basic Settings: Start with the main toggle switches to enable the features you want
Customize Appearance: Adjust colors, line styles, and sizes to match your chart preferences

Essential Settings
Trend Display

Display Trend: Master toggle to show/hide all trend analysis elements
Target Time Frame: Select which timeframe to use for trend analysis (leave blank for chart timeframe)
Containment: Enable to highlight when price is contained within previous ranges

Level Settings

Enable Levels: Master toggle for support/resistance level display
Above/Below: Set how many resistance levels (above price) and support levels (below price) to show
Filter Levels: When enabled, shows only the most significant levels without intermediary ones
Max Levels: Maximum number of levels the indicator will track (reduce if experiencing performance issues)

Understanding the Visual Elements
Trend Lines

Yellow Lines: Current active trend connections
Red Lines: Contained price action (when containment is enabled)
Dotted Lines: Most recent trend segment

Support & Resistance Levels

Horizontal Lines: Key price levels where price has previously reacted
Price Labels: Exact price values displayed on the right side of levels (when enabled)
Timeframe Labels: Shows which timeframe generated each level (when enabled)

Advanced Configuration
Visual Customization

Line Styles: Choose between solid, dashed, or dotted lines for trends and levels
Line Width: Adjust thickness from 1-50 pixels
Colors: Customize colors for different trend states and level types
Label Sizes: Set font size for price and timeframe labels

Performance Optimization

Relevance Factor: Controls how far back the indicator looks for levels (higher values = more historical data)
Max Levels: Limit the total number of levels tracked to improve performance
Price Offset: Adjust horizontal position of price labels

Practical Applications
For Day Traders

Use lower timeframes (15m, 1H) for intraday support/resistance levels
Enable containment detection to identify breakout opportunities
Set alerts for trend direction changes

For Swing Traders

Analyze daily or 4-hour timeframes for major trend direction
Focus on key support/resistance levels for entry and exit points
Use level filtering to see only the most significant price levels

For Position Traders

Use weekly or monthly timeframes for long-term trend analysis
Identify major support/resistance zones for portfolio allocation decisions
Monitor containment patterns for market structure changes

Alert System
The indicator provides three types of alerts:

Direction Changed: Triggers when trend direction changes (either bullish to bearish or vice versa)
Bullish Direction: Specifically triggers when trend changes from bearish to bullish
Bearish Direction: Specifically triggers when trend changes from bullish to bearish

To set up alerts, use TradingView's alert system and select the appropriate Polytrends alert condition.
Best Practices
Setup Recommendations

Start with default settings and gradually customize based on your trading style
Use higher timeframes for trend direction and lower timeframes for precise entries
Enable containment analysis during ranging markets
Reduce max levels if chart becomes cluttered

Interpretation Tips

Treat support/resistance levels as zones rather than exact prices
Look for confluence between multiple timeframe levels
Use containment patterns to identify potential breakout setups
Confirm trend changes with other technical indicators

Troubleshooting
Performance Issues

Reduce the "Max Levels" setting
Lower the "Relevance Factor"
Disable features you're not actively using

Too Many/Few Levels

Adjust "Above" and "Below" settings to control level quantity
Use "Filter Levels" to show only the most significant levels
Modify "Relevance Factor" to change how far back the indicator looks

Visual Clarity

Adjust line width and colors for better visibility
Use different line styles to distinguish between trend types
Modify label sizes based on your screen resolution

Limitations

The indicator works best on liquid markets with clear trend patterns
Very choppy or low-volume markets may produce less reliable signals
Performance may be affected on lower-end devices with very high "Max Levels" settings
Historical levels are based on past price action and don't predict future movements

3 giorni fa

Note di rilascio

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