TrendPredator ES

l’altro ieri

TrendPredator Essential (ES) automates multi-timeframe analysis, combining concepts from:

- James Dalton: “What is price trying to do, and how successful is it with that?”
- Stacey Burke: “Only 3 things markets do: breakout continue, breakout reverse, stay in range”

The indicator determines the bias for different timeframes, signals trend strength and potential rollover points and visually represents multi-timeframe patterns for specific setups.

How It Works

The indicator tracks key elements for each timeframe:

1. Previous Highs and Lows Extensions
Displays extended levels (high, low, and close) for each timeframe, showing where the price trades relative to these levels.
2. Breach Lines
Tracks live market reactions, such as breakouts or fakeouts, and highlights these levels to identify potential continuation or reversal points.
3. Historic Highs and Lows
Displays historic levels for context, allowing users to track sequences over time.
4. Multi-Timeframe Table
Provides a real-time view of:
- Current and Previous: Bias states for the current and previous candles.
- Overextensions: Tracks three consecutive breakouts to one side, signaling potential trend exhaustion.
- First Red or Green: Marks early signs of trend weakness after multiple consecutive candles in one direction.

The indicator automates these processes fully and allows deep customization.

Using the Indicator for Trading

The real-time information is used to assess trend strength and momentum across timeframes, helping to identify setups systematically:

1. Bias Alignment
Follow the bias of higher timeframes like Daily and H8. For example, if the price is above the Previous Day High, focus on long setups until signs of overextension or reversal appear.
2. Setup Types
- Previous Day Breakout, Fakeout: Trade in alignment with the previous day’s trend.
- Breakout, Fakeout Days: Follow the current day’s clear trend.
- Reversal Days: Identify reversal setups when lower timeframes show rollovers after higher timeframe weakness.
3. Multi-Timeframe Structure
Evaluate setups based on the relationship between Month/Week, Week/Day, and Day/H8/H4. The more alignment across timeframes, the stronger the setup.

Traders can then use their own entry criteria to finally confirm setups.

Disclaimer
Trading involves significant risk and may lead to financial loss.
This indicator is for educational purposes only and does not guarantee profits.
The indicator gives no buy and sell signals, it only shows zones for potential setups.
Users are fully responsible for their trading decisions and outcomes.