OPEN-SOURCE SCRIPT

Multi Timeframe Trend Screener [TradeDots]

Actualizado
The "Multi Timeframe Trend Screener" is a trading indicator designed to assist traders in identifying the market trends of multiple assets within a single panel. This tool is invaluable for detecting shifts in trends, enabling traders to easily adjust their strategies under different market conditions.

HOW DOES IT WORK

Upon initialization, the indicator requires users to input two key pieces of information:
  1. The assets to be monitored.
  2. The timeframes to be analyzed.


The tool is capable of simultaneously tracking up to four assets across five distinct timeframes.

By specifying the type and length of the moving average, the indicator uses this data as a baseline to determine the current market trend.

A price movement below the moving average triggers a downward trend symbol (📉), indicating bearish conditions.

Conversely, a movement above the moving average displays an upward trend symbol (📈), signaling bullish conditions.

The aggregation of moving averages across various timeframes provides a comprehensive view of the overall market sentiment.

APPLICATION

In scenarios where the market consistently demonstrates an upward trend, each timeframe will display a bullish symbol. Shifts in market sentiment typically start in the shorter timeframes and can progressively affect longer ones if the trend continues.

This cascading effect allows the indicator to show all timeframes transitioning to a bearish orientation when the trend reverses.

The indicator also facilitates comparison between different assets. For assets with high correlation, a trend shift in one can often predict similar movements in correlated assets, thus allowing traders to swiftly adapt their strategies to align with new market conditions.

RISK DISCLAIMER

Trading entails substantial risk, and most day traders incur losses. All content, tools, scripts, articles, and education provided by TradeDots serve purely informational and educational purposes. Past performances are not definitive predictors of future results.
Notas de prensa
  • Chart update
Moving AveragesmultitimeframeanalysismultitimeframessentimenttradedotsTrend Analysistrendpatterntrendscreener

Script de código abierto

Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.

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