TRENDsignalsindicator_MTF

► DESCRIPTION
This indicator calculate works in 2 directions:
1) Calculate SMA & VWAP trends at a fixed value: so it values the price actions according the VWAP level to reach the perfect entrypoint
2) Set the value found at a different timeframe(4Hs if u use tradingview TF of 15 mins)
This combination is useful to identify the trend

To help the trader, I placed BUY/SELL signals on the second candle of the same color changed.
Furthermore, I placed:
- HH and LL of the day(green and red lines) and of the current Week(white lines): these lines help the traders to identify the relative supports and resistances
- line red and gray(with big arrows at the start of them): to identify others supports and resistance

► HOW TO USE IT:
1) Entry when a signal(buy/sell) appears or when candles change color: yellow is long, red is short
2) Evaluate where the candle is: for example, if you get a signal "buy", near the Weekly line LL, it's the perfect entry point. The same is if u get a "SELL" signal near the upper white line, it's the perfect moment to enter short.
3) Take profit: we suggest to take profit when RSI is overbought or oversold, that we've pointed thanks the following signals:
- colored circles
- small diamonds
- white circles
- Big white diamonds

► Legend:
BARCOLORS: Yellow is long and red is short moment
MINIARROW buy/sell alert u when the color of candls change
COLORED CIRCLES: indicates when Rsi is oversold or overbought. We identify them like good moment to take profit
BIG ARROW: Identify support and resistance level
SMALL DIAMOND: Use it Like TP. Possible small swing of price can happen
WHITE CIRCLE: Use it Like TP. Possible small swing of price can happen
BIG WHITE DIAMOND: Use it Like TP. Possible big swing of price can happen



So it's suggested to trade just near this supports and resistence using the right direction: when you have a reversal signal near one of the daily or weekly line, it's a good moment to entry

PLEASE COMMENT HERE BELOW ANY QUESTION ABOUT THIS STUDY

Versionshinweise:

Name changed

Versionshinweise:

Upgraded RSI overbought and oversold level:
from 35 and 55, to 30 and 60.
So we'll have less signals of TPs, but more accurate

Versionshinweise:

chart updated
Buy and sell triangles changed colors to green and red

Versionshinweise:

handled possible repaint