In trading, capturing the trend is very important. The logic is to use higher time frame to capture the trend and use lower time frame for entry & exit.
This simple indicator is used to gauge the trend on higher time frame, you can ideally set a time frame of 3x to 4x of the current time frame you are using.
E.g. In BankNifty day trading you can use 3 min TF on chart and use 15 min (default indicator value) of the trend analyzer indicator.
How to use the indicator?
1. Trend is your friend :- If the indicator is giving you a buy, use lower timeframe to enter long and vice versa. 2. Higher TF, takes time to change trend, it’s ok to leave those time period for trading. 3. When both higher TF & lower TF trend is aligned, you success ration increases drastically.
Excellent for scalping while always having an eye on the HTF trend without having to switch/view another chart. Red and Green. Simple but
subhdash1984
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So far looking good. Great work indeed. Let me try it tomorrow in live market. Chart TF is 3 min and indicator default is 15 min, right?? Should go with this setting.
subhagghosh
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@subhdash1984, I have tested it in live for 3 months, excellent in catching big spike movements.
Mohanrockstar
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may I know the indicator name pls
subhdash1984
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@Mohanrockstar, just add this indicator to your favorites and you can access. "trend signal" is the name of the indicator