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Advanced MTF Trend Aligner with Confirmation
Advanced MTF Trend Aligner with Triple Confirmation is an institutional-grade technical analysis tool. This indicator is specifically designed for traders who want to capture high-probability trades and avoid over-trading and false signals that occur in sideways or choppy markets. This system works on the principle of confluence trading, meaning no signal is generated until the three biggest factors of the market, trend, momentum, and volume, align together.
How It Works:
This indicator uses a three-layer security cycle to filter the market.
The first is Multi-Timeframe Trend Alignment. Often breakouts seen on smaller timeframes fail because they go against the trend of the larger timeframe. This indicator tracks the Exponential Moving Average of two higher timeframes, such as one hour and four hours, in the background along with the live chart. For a buy signal, the current price and the price of both higher timeframes must be above their respective EMA. For a sell signal, the price on all three timeframes must be below the EMA.
The second is the Relative Strength Index, or RSI. Just having a trend is not enough, it is also important to have speed in that trend. The indicator checks the live reading of RSI 14. A bullish move is considered valid only when the RSI is above 52, which indicates strengthening bulls. A bearish move is considered valid only when the RSI is below 48, which indicates growing bears.
The third is Volume Confirmation. Whenever smart money enters the market, volume increases rapidly. This indicator compares the volume of the current candle with the volume moving average of the last 20 candles. The signal is printed only when the live volume is higher than the average volume.
Key Features and Improvements:
It is commonly seen that moving average based indicators flood the chart with signals in trending markets. A state machine logic has been used in this indicator, which does not print a new signal once a signal appears until the trend changes completely. This keeps your chart completely clean. To avoid confusion, the colors of the triangles and text of the signals are completely matched, such as dark green for buy and dark red for sell. You can easily change the EMA length, RSI levels, volume parameters, and higher timeframes by going into the settings according to your trading style.
How to Trade with This Indicator:
When a green triangle of confirmed buy appears on the chart, it is an ideal long entry point. Place the stop loss just below the previous swing low or the 50 EMA. When a red triangle of confirmed sell appears on the chart, it is an ideal short entry. Place the stop loss above the recent swing high or the 50 EMA. This indicator works excellently on all timeframes from 5 minutes to 1 day.
Disclaimer: No indicator is 100 percent accurate. Always use this tool with proper risk management and your own trading plan.
How It Works:
This indicator uses a three-layer security cycle to filter the market.
The first is Multi-Timeframe Trend Alignment. Often breakouts seen on smaller timeframes fail because they go against the trend of the larger timeframe. This indicator tracks the Exponential Moving Average of two higher timeframes, such as one hour and four hours, in the background along with the live chart. For a buy signal, the current price and the price of both higher timeframes must be above their respective EMA. For a sell signal, the price on all three timeframes must be below the EMA.
The second is the Relative Strength Index, or RSI. Just having a trend is not enough, it is also important to have speed in that trend. The indicator checks the live reading of RSI 14. A bullish move is considered valid only when the RSI is above 52, which indicates strengthening bulls. A bearish move is considered valid only when the RSI is below 48, which indicates growing bears.
The third is Volume Confirmation. Whenever smart money enters the market, volume increases rapidly. This indicator compares the volume of the current candle with the volume moving average of the last 20 candles. The signal is printed only when the live volume is higher than the average volume.
Key Features and Improvements:
It is commonly seen that moving average based indicators flood the chart with signals in trending markets. A state machine logic has been used in this indicator, which does not print a new signal once a signal appears until the trend changes completely. This keeps your chart completely clean. To avoid confusion, the colors of the triangles and text of the signals are completely matched, such as dark green for buy and dark red for sell. You can easily change the EMA length, RSI levels, volume parameters, and higher timeframes by going into the settings according to your trading style.
How to Trade with This Indicator:
When a green triangle of confirmed buy appears on the chart, it is an ideal long entry point. Place the stop loss just below the previous swing low or the 50 EMA. When a red triangle of confirmed sell appears on the chart, it is an ideal short entry. Place the stop loss above the recent swing high or the 50 EMA. This indicator works excellently on all timeframes from 5 minutes to 1 day.
Disclaimer: No indicator is 100 percent accurate. Always use this tool with proper risk management and your own trading plan.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.