TradingView
metka183
2023년 12월 6일 오후 4시 19분

Trend Direction Sequence | Auto-Multi-Timeframe 

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설명

The main benefit of this indicator is the ability to see multiple higher timeframes at ones to get a better overview of signals that could mark possible trend reversals with more weight than those on the selected timeframe. Since the higher timeframes are calculated automatically, the user needs to set a Period Multiplier that multiplies the selected timeframe several times to determine the higher timeframes. Equal periods are filtered out. And the current highest timeframe is capped at 1 year by TradingView.

It is possible to alter the sequence Count Limit and the underlying Wavelength. The Wavelength defines the distance between the starting and ending candle. This builds the minimum condition to find a trend. A longer Wavelength means that the distortions between the start and end candle can be bigger, so it can become easier to find a trending sequence. But be careful not to set the length too high as this could mean that the resulting sequence does not really represent a trend anymore. The Count Limit defines the completion of a trending sequence. A higher number makes it more difficult to find a completed sequence, but also makes the result more reliable. If the Wavelength is changed, the Count Limit should be adjusted accordingly.

There is also a qualifier for the completion of a sequence. A completed sequence only will be labeled on the chart, if it is proved that the lowest low/highest high of the last two candlesticks of a period is lower/higher than that of the previous two candlesticks. It does not require the trend to be continuous on the last candlestick. On the contrary, a trend shift may already have begun.

By default, the labeling of completed sequences will appear on the highs and lows of the specific periods. Because the higher periods will take time and several candlesticks to appear, the labels will be redrawn accordingly. As an option it is possible to disable the Count Limit for completed sequences so that the labels will be fluently redrawn until the corresponding sequences are interrupted by trend breaks. Only activate this option, if it can serve a plausible strategy.

The count status of all sequences in the specific timeframe periods is listed in a table. Also the results of the trends in higher timeframes are accumulated and combined into an overall trend. Positive trends are counted as positive, negative in the opposite case. To see the resulting Trend Shift Signals, the user can set a filter under 100% so that not all of them will be filtered out and therefore labeled on the chart (this signals cannot be redrawn). An “External Indicator Analysis Overlay” can be used to analyze the profitability with the provided Trend Shift Signal (TSS) which switches from 0 to 1, if the trend becomes positive or from 0 to -1, if the trend becomes negative.

릴리즈 노트

Correction for the treatment of intraday timeframes.

릴리즈 노트

Added alert functionality. There are two ways for getting alerts:
  • Using the Trend Filter makes it possible to receive alerts via the “Buy (Overall Trend Shift)” and “Sell (Overall Trend Shift)” options. The Overall Trend Shifts are marked with small triangles on the chart.
  • Using the Alert Trigger makes it possible to receive alerts via the “Any alert() function call” option for all alerts. The user will get alerts for all completed sequences and/or interrupted sequences (after they were completed) on all set up timeframes. Completed sequences are labeled with the specific period on the chart. While the label can move to higher highs/lower lows within its period, an alert can only occur ones.
    For example, when using the Sequence Continuation option, the alert only occurs on the first possible candlestick when a sequence completes and only occurs again after an interruption of the sequence.

릴리즈 노트

Small correction for alert frequency.
코멘트
Devulsky
Is it based on Tom De Mark's TD sequential or LELEDC?
metka183
@Devulsky, Both seem to have the same basic idea of counting waves of a certain length. However, I saw the original idea from Tom and implemented it here in a generalized form. So the results are not exactly the same.
Rajeshs0102
Hii does this indicator repaint signals?
metka183
@Rajeshs0102, the labels must be repainted for higher timeframes if a higher high or lower low occurs in the corresponding period of that timeframe as there are multiple candles to choose from. Only the selected timeframe cannot be repainted as this is the lowest timeframe and therefore there is only one candle for it. Additionally, if the Continue Sequence option is activated, then the labels will truly be repainted fluently until a trend is broken. In the table you can see the trend for each timeframe.
Rajeshs0102
@metka183, thanku so much for reply one request it's possible to give option to turn off turn on higher timeframe signals
metka183
@Rajeshs0102, sure, you can set Higher Timeframes to 0, then only the selected timframe will generate signals.
Devulsky
One of the best indicators in Tradingview. Thank you.
hispeed3535
Also the Alert does not work unless I am doing it wrong but have tried several different setups and does not seem to work.
metka183
@hispeed3535, For convenience, I would recommend to utilize the “External Indicator Analysis Overlay”, which can be set up to generate alerts by using the Trend Shift Signal (TSS) of this indicator.
metka183
@hispeed3535, it was not easy, but I finally added some options for alerts 😉
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