OPEN-SOURCE SCRIPT
已更新 Multi Timeframe Trend Screener [TradeDots]
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:
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.
HOW DOES IT WORK
Upon initialization, the indicator requires users to input two key pieces of information:
- The assets to be monitored.
- 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.
版本注释
- Chart update
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。