Multi Timeframe Trend Screener [TradeDots]

The "Multi Timeframe Trend Screener" is a trading indicator designed to assist traders in identifying the market trends of multiple assets within a single panel. This tool is invaluable for detecting shifts in trends, enabling traders to easily adjust their strategies under different market conditions.

HOW DOES IT WORK

Upon initialization, the indicator requires users to input two key pieces of information:

The assets to be monitored.
The timeframes to be analyzed.

The tool is capable of simultaneously tracking up to four assets across five distinct timeframes.

By specifying the type and length of the moving average, the indicator uses this data as a baseline to determine the current market trend.

A price movement below the moving average triggers a downward trend symbol (📉), indicating bearish conditions.

Conversely, a movement above the moving average displays an upward trend symbol (📈), signaling bullish conditions.

The aggregation of moving averages across various timeframes provides a comprehensive view of the overall market sentiment.

APPLICATION

In scenarios where the market consistently demonstrates an upward trend, each timeframe will display a bullish symbol. Shifts in market sentiment typically start in the shorter timeframes and can progressively affect longer ones if the trend continues.

This cascading effect allows the indicator to show all timeframes transitioning to a bearish orientation when the trend reverses.

The indicator also facilitates comparison between different assets. For assets with high correlation, a trend shift in one can often predict similar movements in correlated assets, thus allowing traders to swiftly adapt their strategies to align with new market conditions.

RISK DISCLAIMER

Trading entails substantial risk, and most day traders incur losses. All content, tools, scripts, articles, and education provided by TradeDots serve purely informational and educational purposes. Past performances are not definitive predictors of future results.

Note di rilascio

Chart update

Script open-source

In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.

Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.

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Declinazione di responsabilità

Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.

Script open-source

Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.

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