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StockRadar - Mega Trend Indicator (MTI)
Overview
The Mega Trend Indicator (MTI) is an advanced trend-following indicator that combines Fourier-based trend analysis with adaptive volatility bands to identify strong directional moves and optimal re-entry opportunities. Designed for traders who want to ride major trends while avoiding false signals during weak or choppy market conditions.
Core Features
Fourier-Based Trend Detection
The indicator uses a sophisticated Fourier transformation algorithm that combines multiple harmonic wave components to identify the underlying trend direction. This approach provides:
- Smooth trend identification with reduced noise compared to simple moving averages
- Adaptive sensitivity through harmonic weight adjustments
- Clear visual signals when the trend changes direction (BULLISH/BEARISH labels)
Adaptive Volatility Bands
Dynamic volatility bands are calculated using a combination of ATR (Average True Range) and Standard Deviation, creating context-aware trend boundaries that adapt to current market conditions.
Discount Zones - Smart Re-Entry System
One of the indicator's key features is the Discount Zone system, which identifies potential re-entry areas during pullbacks within an established trend. This allows traders to:
- Enter at better prices during temporary retracements
- Avoid chasing the trend at unfavorable levels
- Get real-time alerts when price enters discount zones
Discount zones are displayed as highlighted areas between the trend line and a calculated support/resistance level, with visual markers (circles) appearing when price enters these zones.
Settings & Customization
Trend Settings
- Price Source: Choose the price data used for calculations (default: Close)
- Fourier Base Period: Base period for trend calculation (default: 14). Higher values = smoother but more lag
- Fourier Smoothing: Additional smoothing layer (default: 7)
- Harmonic Weight: Controls sensitivity of trend detection (0-1, default: 0.5)
Volatility Settings
- Volatility Length: Period for ATR and Standard Deviation calculation (default: 10)
- Volatility Multiplier: Width of trend bands (default: 2.0). Higher = wider bands
- Volatility Smoothing: Smoothing period for volatility (default: 10)
Visual Settings
- Bullish/Bearish Colors: Customize trend colors
- Enable Candle Coloring: Color candles based on trend direction
- Show Trend Change Signals: Display BULLISH/BEARISH labels on trend reversals
Discount Zone Settings
- Show Discount Zones: Toggle discount zone visualization
- Discount Zone ATR Multiplier: Distance from trend line for discount zones (default: 1.5). Lower = tighter zones
- Discount Zone Color: Customize discount zone highlighting
Optional Filters
Volume Confirmation (Default: OFF)
When enabled, discount zones only appear when volume is above average, providing stronger confirmation of re-entry opportunities.
- Volume Average Length: Period for average volume calculation (default: 20)
- Volume Multiplier: Minimum volume threshold (default: 1.2x average)
Trend Strength Filter (Default: OFF)
Prevents re-entries when the trend is weakening, helping avoid entries just before trend reversals. Uses ADX (Average Directional Index) to measure trend strength.
- ADX Length: Period for ADX calculation (default: 14)
- Minimum ADX Threshold: Required trend strength (default: 20.0)
- 15-20: Weak to moderate trends
- 20-25: Moderate to strong trends
- 25+: Very strong trends
Alerts
The indicator provides comprehensive alert functionality:
- Bullish/Bearish Signal Alerts: When the trend changes direction
- Discount Zone Entry Alerts: When price enters a discount zone (with optional filters applied)
Use Cases
- Trend Following: Identify and ride major trends with clear entry and exit signals
- Re-Entry Optimization: Find better entry prices during pullbacks within strong trends
- Trend Reversal Detection: Get early warnings when trends change direction
- Filtered Trading: Use optional filters to reduce false signals in choppy markets
Best Practices
1. Combine with Price Action: Use discount zones as areas of interest, not automatic entry signals
2. Adjust Volatility Multiplier: Tighter markets may need lower multipliers (1.0-1.5), volatile markets may need higher (2.0-3.0)
3. Enable Trend Strength Filter: Recommended for swing trading to avoid weak trends
4. Use Volume Confirmation: Helpful in markets with reliable volume data
5. Timeframe Considerations: Works best on 4H, Daily, and Weekly timeframes for swing trading
Technical Details
- Indicator Type: Overlay
- Pine Script Version: v6
- Calculation Method: Fourier transformation with harmonic wave analysis
- Volatility Method: Adaptive (ATR + Standard Deviation average)
Note: This indicator is designed to complement your trading strategy, not replace proper risk management and analysis. Always use stop-losses and proper position sizing.
Overview
The Mega Trend Indicator (MTI) is an advanced trend-following indicator that combines Fourier-based trend analysis with adaptive volatility bands to identify strong directional moves and optimal re-entry opportunities. Designed for traders who want to ride major trends while avoiding false signals during weak or choppy market conditions.
Core Features
Fourier-Based Trend Detection
The indicator uses a sophisticated Fourier transformation algorithm that combines multiple harmonic wave components to identify the underlying trend direction. This approach provides:
- Smooth trend identification with reduced noise compared to simple moving averages
- Adaptive sensitivity through harmonic weight adjustments
- Clear visual signals when the trend changes direction (BULLISH/BEARISH labels)
Adaptive Volatility Bands
Dynamic volatility bands are calculated using a combination of ATR (Average True Range) and Standard Deviation, creating context-aware trend boundaries that adapt to current market conditions.
Discount Zones - Smart Re-Entry System
One of the indicator's key features is the Discount Zone system, which identifies potential re-entry areas during pullbacks within an established trend. This allows traders to:
- Enter at better prices during temporary retracements
- Avoid chasing the trend at unfavorable levels
- Get real-time alerts when price enters discount zones
Discount zones are displayed as highlighted areas between the trend line and a calculated support/resistance level, with visual markers (circles) appearing when price enters these zones.
Settings & Customization
Trend Settings
- Price Source: Choose the price data used for calculations (default: Close)
- Fourier Base Period: Base period for trend calculation (default: 14). Higher values = smoother but more lag
- Fourier Smoothing: Additional smoothing layer (default: 7)
- Harmonic Weight: Controls sensitivity of trend detection (0-1, default: 0.5)
Volatility Settings
- Volatility Length: Period for ATR and Standard Deviation calculation (default: 10)
- Volatility Multiplier: Width of trend bands (default: 2.0). Higher = wider bands
- Volatility Smoothing: Smoothing period for volatility (default: 10)
Visual Settings
- Bullish/Bearish Colors: Customize trend colors
- Enable Candle Coloring: Color candles based on trend direction
- Show Trend Change Signals: Display BULLISH/BEARISH labels on trend reversals
Discount Zone Settings
- Show Discount Zones: Toggle discount zone visualization
- Discount Zone ATR Multiplier: Distance from trend line for discount zones (default: 1.5). Lower = tighter zones
- Discount Zone Color: Customize discount zone highlighting
Optional Filters
Volume Confirmation (Default: OFF)
When enabled, discount zones only appear when volume is above average, providing stronger confirmation of re-entry opportunities.
- Volume Average Length: Period for average volume calculation (default: 20)
- Volume Multiplier: Minimum volume threshold (default: 1.2x average)
Trend Strength Filter (Default: OFF)
Prevents re-entries when the trend is weakening, helping avoid entries just before trend reversals. Uses ADX (Average Directional Index) to measure trend strength.
- ADX Length: Period for ADX calculation (default: 14)
- Minimum ADX Threshold: Required trend strength (default: 20.0)
- 15-20: Weak to moderate trends
- 20-25: Moderate to strong trends
- 25+: Very strong trends
Alerts
The indicator provides comprehensive alert functionality:
- Bullish/Bearish Signal Alerts: When the trend changes direction
- Discount Zone Entry Alerts: When price enters a discount zone (with optional filters applied)
Use Cases
- Trend Following: Identify and ride major trends with clear entry and exit signals
- Re-Entry Optimization: Find better entry prices during pullbacks within strong trends
- Trend Reversal Detection: Get early warnings when trends change direction
- Filtered Trading: Use optional filters to reduce false signals in choppy markets
Best Practices
1. Combine with Price Action: Use discount zones as areas of interest, not automatic entry signals
2. Adjust Volatility Multiplier: Tighter markets may need lower multipliers (1.0-1.5), volatile markets may need higher (2.0-3.0)
3. Enable Trend Strength Filter: Recommended for swing trading to avoid weak trends
4. Use Volume Confirmation: Helpful in markets with reliable volume data
5. Timeframe Considerations: Works best on 4H, Daily, and Weekly timeframes for swing trading
Technical Details
- Indicator Type: Overlay
- Pine Script Version: v6
- Calculation Method: Fourier transformation with harmonic wave analysis
- Volatility Method: Adaptive (ATR + Standard Deviation average)
Note: This indicator is designed to complement your trading strategy, not replace proper risk management and analysis. Always use stop-losses and proper position sizing.
Notas de prensa
Added Price Memory as trend detection method in addition to the default Fourier trend detection method.Script que requiere invitación
Solo los usuarios autorizados por el autor pueden acceder a este script. Deberá solicitar y obtener permiso para utilizarlo. Por lo general, este se concede tras realizar el pago. Para obtener más información, siga las instrucciones del autor indicadas a continuación o póngase en contacto directamente con StockradarAI.
TradingView NO recomienda pagar por un script ni utilizarlo a menos que confíe plenamente en su autor y comprenda cómo funciona. También puede encontrar alternativas gratuitas y de código abierto en nuestros scripts de la comunidad.
Instrucciones del autor
Get access to the indicator via stockradar.ai
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script que requiere invitación
Solo los usuarios autorizados por el autor pueden acceder a este script. Deberá solicitar y obtener permiso para utilizarlo. Por lo general, este se concede tras realizar el pago. Para obtener más información, siga las instrucciones del autor indicadas a continuación o póngase en contacto directamente con StockradarAI.
TradingView NO recomienda pagar por un script ni utilizarlo a menos que confíe plenamente en su autor y comprenda cómo funciona. También puede encontrar alternativas gratuitas y de código abierto en nuestros scripts de la comunidad.
Instrucciones del autor
Get access to the indicator via stockradar.ai
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.