Trend Tracker Pro

Trend Tracker Pro - Advanced Trend Following Indicator
Overview

Trend Tracker Pro is a sophisticated trend-following indicator that combines the power of Exponential Moving Average (EMA) and Average True Range (ATR) to identify market trends and generate precise buy/sell signals. This indicator is designed to help traders capture trending moves while filtering out market noise.

🎯 Key Features

✅ Dynamic Trend Detection

Uses EMA and ATR-based bands to identify trend direction

Automatically adjusts to market volatility

Clear visual trend line that changes color based on market direction

✅ Precise Signal Generation

Buy signals when trend changes to bullish

Sell signals when trend changes to bearish

Reduces false signals by requiring actual trend changes

✅ Visual Clarity

Green trend line: Bullish trend

Red trend line: Bearish trend

Gray trend line: Sideways/neutral trend

Triangle arrows for buy/sell signals

Clear BUY/SELL text labels

✅ Customizable Settings

Trend Length: Adjustable period for EMA and ATR calculation (default: 14)

ATR Multiplier: Controls sensitivity of trend bands (default: 2.0)

Show/Hide Signals: Toggle signal arrows on/off

Show/Hide Labels: Toggle text labels on/off

✅ Built-in Information Panel

Real-time trend direction display

Current trend level value

ATR value for volatility reference

Last signal information

✅ TradingView Alerts

Buy signal alerts

Sell signal alerts

Customizable alert messages

🔧 How It Works

Algorithm Logic:

1.
Calculate EMA: Uses exponential moving average for trend baseline

2.
Calculate ATR: Measures market volatility

3.
Create Bands: Upper band = EMA + (ATR × Multiplier), Lower band = EMA - (ATR × Multiplier)

4.
Determine Trend:

Price above upper band → Bullish trend (trend line = lower band)

Price below lower band → Bearish trend (trend line = upper band)

Price between bands → Continue previous trend

5.
Generate Signals: Signal occurs when trend direction changes

📊 Best Use Cases

✅ Trending Markets

Excellent for capturing strong directional moves

Works well in both bull and bear markets

Ideal for swing trading and position trading

✅ Multiple Timeframes

Effective on all timeframes from 15 minutes to daily

Higher timeframes provide more reliable signals

Can be used for both scalping and long-term investing

✅ Various Asset Classes

Stocks, Forex, Cryptocurrencies, Commodities

Particularly effective in volatile markets

Adapts automatically to different volatility levels

⚙️ Recommended Settings

Conservative Trading (Lower Risk)

Trend Length: 20

ATR Multiplier: 2.5

Best for: Long-term positions, lower frequency signals

Balanced Trading (Default)

Trend Length: 14

ATR Multiplier: 2.0

Best for: Swing trading, moderate frequency signals

Aggressive Trading (Higher Risk)

Trend Length: 10

ATR Multiplier: 1.5

Best for: Day trading, higher frequency signals

🎨 Visual Elements

Trend Line: Main indicator line that follows the trend

Signal Arrows: Triangle shapes indicating buy/sell points

Text Labels: Clear "BUY" and "SELL" text markers

Information Table: Real-time status panel in top-right corner

Color Coding: Intuitive green/red color scheme

⚠️ Important Notes

Risk Management

Always use proper position sizing

Set stop-losses based on ATR values

Consider market conditions and volatility

Not recommended for ranging/sideways markets

Signal Confirmation

Consider using with other indicators for confirmation

Pay attention to volume and market structure

Be aware of major news events and market sessions

Backtesting Recommended

Test the indicator on historical data

Optimize parameters for your specific trading style

Consider transaction costs in your analysis