This indicator is a visual aid that shows you the or of market so you can see the trend without switching charts. When goes up, most stocks go down and vice versa. When the cloud turns green, it is a sign. When the cloud turns red, it is a sign.
This indicator is meant for stocks with a lot of price action and , so for best results, use it on charts that move similar to the S&P 500 or other similar charts.
This indicator uses real time data from the stock market overall, so it should only be used on stocks and will only give a few signals during after hours. It does work ok for crypto, but will not give signals when the US stock market is closed.
**HOW TO USE**
When the Index trend changes direction, it will give a green or red line on the chart depending on which way the is now trending. The cloud will also change color depending on which way the is trending. Use this to determine overall market and place trades in the direction that the indicator is showing. Do not use this by itself as sometimes markets won’t react perfectly to the overall market . It should only be used as a secondary confirmation in your trading/trend analysis.
For more signals with earlier entries, go into settings and reduce the number. 10-100 is best for scalping. For less signals with later entries, change the number to a higher value. Use 100-500 for swing trades. Can go higher for long swing trades. Our favorite settings are 20, 60, 100, 500 and 1000.
This indicator should only be used on the US stock markets as signals are given based on the index which measures of the US Stock Markets.
This indicator works on all time frames, but after hours will not change much at all due to the markets being closed.
If you are using this on an inverse and the signals are showing backwards, please comment with what chart it is and I will configure the indicator to give the correct signals. I have included over 50 inverse ETFs into the code to show the correct signals on inverse charts, but I'm sure there are some that I have missed so feel free to let me know and I will update the script with the requested tickers.
Try using numerous indicators of ours on your chart so you can instantly see the or of multiple indicators in real time without having to analyze the data. Some of our favorites are our Auto Fibonacci, Index, with buy & sell pressure, Auto , Scalper and Index in combination with this Trend Analysis. They all have real time and labels as well so you can immediately understand each indicator's trend.
Updated the default settings to use the RMA 10 instead of the HMA 20 for more reliable signals.
Added ability to change what type of Moving Average is used for calculations of signals.
Get Trend Friend Algo -> https://friendofthetrend.com/
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Dans le véritable esprit de TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par le règlement. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
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