Overview
How to Apply TrendChecker A
To apply TrendChecker A indicator to your chart layout, Kindly follow the steps
Open Tradingview account. You can use the free version to use TrendChecker Indicators. Paid accounts are not required to work with TrendChecker.
Open any chart layout and click on Indicators
Go to Invite Only Scripts
Select TrendChecker A and TrendChecker B
TrendChecker A Indicator is a visible part of the chart layout directly. As you can see in the example photo given below.
TrendChecker A is best to use with Normal chart candlesticks and Heikin Ashi Candles. To start analysis for any market make sure you are on the above-expressed Charts. In General, we recommend using Heikin Ashi Candles for traders who are looking for swing trading.
Never apply TrendChecker A indicator to any other type of candle other than the above expressed.
Learn Technical Terms TrendChecker A
TrendChecker A is created in such a way that it becomes so easy to analyze the current trend of the market and helps you to take action accordingly. TrendChecker A is created to simulate the market maker as they constantly move prices from one point to another. Normally as a retail trader, you might have no idea that any asset for instance is managed by market makers commonly known as liquidity providers. Market makers move prices with the repeatable same type of patterns over and over that it is in front of you yet still can not understand them or their intentions without proper analysis. so let's understand more about some terms that you need to understand before using TrendChecker A.
Markup Phase
The markup phase in TrendChecker A is the period of time when the price of a security is rising. This phase is characterized by increasing volume and momentum. The markup phase is typically followed by a distribution phase when the price of the security begins to fall.
The markup phase can be identified by looking for the following signs:
Increasing volume on TrendChecker B: The volume of trading should be increasing during the markup phase. This indicates that there is more interest in security and that buyers are entering the market.
Increasing momentum on TrendChecker B: The momentum of the security should be increased during the markup phase. This indicates that the price is rising at an accelerating rate.
Rising prices: The price of the security should be rising during the markup phase. This is the most obvious sign that the security is in a markup phase. It is also identified by the Green Baseline on TrendChecker A
The markup phase can be a good time to buy a security. However, it is important to remember that the markup phase is not always followed by a distribution phase. The price of the security could continue to rise, or it could fall back to previous levels. It is important to use other technical indicators and fundamental analysis to make informed trading decisions.
MarkDown Phase
The markdown phase in TrendChecker A is the period of time when the price of a security is falling. This phase is characterized by decreasing volume and momentum. The markdown phase is typically followed by a markup phase when the price of the security begins to rise.
The markdown phase can be identified by looking for the following signs:
Decreasing volume TrendChecker B: The volume of trading should be decreasing during the markdown phase. This indicates that there is less interest in security and that sellers are entering the market.
Decreasing momentum TrendChecker B: The momentum of the security should be decreasing during the markdown phase. This indicates that the price is falling at an accelerating rate.
Falling prices: The price of the security should be falling during the markdown phase. This is the most obvious sign that the security is in a markdown phase. It is also identified by the Red Baseline on TrendChecker A
The markdown phase can be a good time to sell a security. However, it is important to remember that the markdown phase is not always followed by a markup phase. The price of security could continue to fall, or it could rise back to previous levels. It is important to use other technical indicators and fundamental analysis to make informed trading decisions.
800 EMA = Identify Larger Trend Cycle
The 800 EMA, or Exponential Moving Average, is a technical indicator that is used to smooth out price data and identify trends. It is calculated by taking the average of the closing prices over the past 800 candle periods. The 800 EMA is often used in conjunction with other technical indicators, such as the 200 EMA, to identify potential reversals in the trend.
In Trendchecker, the 800 EMA is used to identify the Larger trend of the market. When the 800 EMA is sloping upwards, it indicates that the market is in an uptrend. When the 800 EMA is sloping downwards, it indicates that the market is in a downtrend. The 800 EMA can also be used to identify potential reversals in the trend. If the 800 EMA crosses below the 200 EMA, it is a sign that the market may be about to enter a downtrend. If the 800 EMA crosses above the 200 EMA, it is a sign that the market may be about to enter an uptrend.
The 800 EMA is a versatile technical indicator that can be used to identify trends and reversals in the market. It is often used in conjunction with other technical indicators to provide a more complete picture of the market.
Overall, the 800 EMA is a useful technical indicator that can be used to identify trends and reversals in the market. It is important to remember that no single technical indicator can provide a complete picture of the market, and it is always advisable to use multiple indicators in conjunction with each other.
The Blue color line shows 800 EMA on TrendChecker A
200 EMA = Identify Medium Trend Cycle
The 200-day exponential moving average (EMA) is a technical indicator that is used to smooth out price data and identify trends. It is calculated by taking the average of the closing prices over the past 200 periods. The 200 EMA is often used in conjunction with other technical indicators, such as the 50-day EMA, to identify potential reversals in the trend.
The 200 EMA is a long-term trend-following indicator. It is often used to identify the Medium trend of the market. When the 200 EMA is sloping upwards, it indicates that the market is in an uptrend. When the 200 EMA is sloping downwards, it indicates that the market is in a downtrend. The 200 EMA can also be used to identify potential reversals in the trend. If the 200 EMA crosses below the 50-day EMA, it is a sign that the market may be about to enter a downtrend. If the 200 EMA crosses above the 50-day EMA, it is a sign that the market may be about to enter an uptrend.
Overall, the 200 EMA is a useful technical indicator that can be used to identify trends and reversals in the market. It is important to remember that no single technical indicator can provide a complete picture of the market, and it is always advisable to use multiple indicators in conjunction with each other.
Here are some examples of how the 200 EMA can be used to trade stocks:
If the 200 EMA is sloping upwards and the stock price is above the 200 EMA, this is a sign that the stock is in an uptrend. You could buy the stock and look to sell it when the price reaches a resistance level.
If the 200 EMA is sloping downwards and the stock price is below the 200 EMA, this is a sign that the stock is in a downtrend. You could short the stock and look to cover your short position when the price reaches a support level.
If the 200 EMA crosses above the 50-day EMA, this is a sign that the market may be about to enter an uptrend. You could buy the stock and look to sell it when the price reaches a resistance level.
If the 200 EMA crosses below the 50-day EMA, this is a sign that the market may be about to enter a downtrend. You could short the stock and look to cover your short position when the price reaches a support level.
It is important to remember that the 200 EMA is just one technical indicator and should not be used in isolation. It is always advisable to use multiple indicators in conjunction with each other to get a more complete picture of the market.
The indicator shows color coded 200 EMA. Green If the price is above the 200 EMA and Red if the price is below the 200 EMA. The EMA is a type of weighted moving average (WMA) that gives more weighting or importance to recent price data. It is color coded so if the price is above 200 EMA then the 200 EMA line is green otherwise red.
50 EMA ZONE - Identify Current Trends of the Market
The 50-day exponential moving average (EMA) is a technical indicator that is used to smooth out price data and identify smaller-term current market trends. It is calculated by taking the average of the closing prices over the past 50 periods. The 50-day EMA is often used in conjunction with other technical indicators, such as the 200-day EMA, to identify potential reversals in the trend.
The 50-day EMA is a short-term trend-following indicator. It is often used to identify the current trend of the market. When the 50-day EMA is sloping upwards, it indicates that the market is in an uptrend. When the 50-day EMA is sloping downwards, it indicates that the market is in a downtrend. The 50-day EMA can also be used to identify potential reversals in the trend. If the 50-day EMA crosses below the 200-day EMA, it is a sign that the market may be about to enter a downtrend. If the 50-day EMA crosses above the 200-day EMA, it is a sign that the market may be about to enter an uptrend.
A 50 EMA zone created with SSL lines in TrendChecker A is a region of price where the 50 EMA and the SSL lines converge. This zone can be used to identify potential support and resistance levels. When the price approaches a 50 EMA zone, it is often met with resistance or support. This can be a good opportunity to enter or exit a trade.
Here are some examples of how the 50 EMA zone can be used to trade stocks:
If the price is above the 50 EMA zone and the SSL lines are sloping upwards, this is a sign that the stock is in an uptrend. You could buy the stock and look to sell it when the price reaches a resistance level.
If the price is below the 50 EMA zone and the SSL lines are sloping downwards, this is a sign that the stock is in a downtrend. You could short the stock and look to cover your short position when the price reaches a support level.
If the price is at the 50 EMA zone and the SSL lines are flat, this is a sign that the market is in consolidation. You could wait for the price to break out of the zone before entering a trade.
It is important to remember that the 50 EMA zone is just one technical indicator and should not be used in isolation. It is always advisable to use multiple indicators in conjunction with each other to get a more complete picture of the market.
The three-layered color-coded line that you see on TrendChecker A is the 50 Exponential Moving Average (EMA) is similar to Simple Moving Average (SMA), measuring trend direction over a period of time. 50 EMA term suggests you will see a price movement line of past 50 candles for that specific timeframe on which you are doing your market analysis. It is color-coded so if the price is above 50 EMA then it is green otherwise red. The Grey area on TrendChecker A shows sideways action for that candle.
5 SMA - TrendChecker2 Line in TrendChecker A
A simple moving average (SMA) is a technical indicator that is used to smooth out price data and identify trends. It is calculated by taking the average of the closing prices over a specified number of periods. The 5-day SMA is calculated by taking the average of the closing prices over the past 5 days.
The 5-day SMA is a short-term trend-following indicator. It is often used to identify the overall trend of the market. When the 5-day SMA is sloping upwards, it indicates that the market is in an uptrend. When the 5-day SMA is sloping downwards, it indicates that the market is in a downtrend. The 5-day SMA can also be used to identify potential reversals in the trend. If the 5-day SMA crosses below the 20-day SMA, it is a sign that the market may be about to enter a downtrend. If the 5-day SMA crosses above the 20-day SMA, it is a sign that the market may be about to enter an uptrend.
In TrendChecker A, the 5-day SMA is used to identify potential support and resistance levels. When the price approaches a 5-day SMA, it is often met with resistance or support. This can be a good opportunity to enter or exit a trade.
Here are some examples of how the 5-day SMA can be used to trade stocks:
If the price is above the 5-day SMA and the trend is upward, this is a sign that the stock is in an uptrend. You could buy the stock and look to sell it when the price reaches a resistance level.
If the price is below the 5-day SMA and the trend is downward, this is a sign that the stock is in a downtrend. You could short the stock and look to cover your short position when the price reaches a support level.
If the price is at the 5-day SMA and the trend is sideways, this is a sign that the market is in a consolidation. You could wait for the price to break out of the range before entering a trade.
Overall, the 5-day SMA is a useful technical indicator that can be used to identify trends and reversals in the market. It is important to remember that no single technical indicator can provide a complete picture of the market, and it is always advisable to use multiple indicators in conjunction with each other.
TrendChecker2 line is the simple moving average line printed on the chart as a white line. It is a continuation line that acts as local support and resistance for that move. Trendchecker2 will change its color to green and red which shows support and resistance for that area. Note that Trendchecker2 support and resistance can be broken
Parabolic SAR, or parabolic stop and reverse
Parabolic SAR, or parabolic stop and reverse, is a technical indicator that is used to identify potential reversals in the market. It was developed by J. Welles Wilder, Jr., the same person who developed the Relative Strength Index (RSI).
Parabolic SAR is a trend-following indicator, which means that it is designed to identify trends and stay with them. The indicator is calculated by plotting a series of dots above or below the price chart. When the dots are above the price, it is a sign that the market is in an uptrend. When the dots are below the price, it is a sign that the market is in a downtrend.
The dots are plotted using a formula that takes into account the current price, the previous price, and the number of periods that the indicator has been in use. The formula also includes a parameter called the "acceleration factor," which determines how quickly the dots move. The higher the acceleration factor, the faster the dots move.
Parabolic SAR is a useful tool for identifying potential reversals in the market. However, it is important to remember that it is not a perfect indicator. It can generate false signals, and it is important to use it in conjunction with other technical indicators to confirm signals.
Overall, Parabolic SAR is a useful technical indicator that can be used to identify potential reversals in the market. It is important to remember that no single technical indicator can provide a complete picture of the market, and it is always advisable to use multiple indicators in conjunction with each other. PSAR is shown with the Yellow dots on TrendChecker A.
ELDER IMPULSE SYSTEM
The Elder Impulse System is a technical analysis indicator designed by Alexander Elder to identify trends and reversals. It is based on two indicators: a 13-day exponential moving average (EMA) and the MACD histogram. The EMA identifies the trend, while the MACD histogram measures momentum.
The Elder Impulse System is a trend-following indicator, which means that it is designed to identify trends and ride them to their completion. The system works by identifying inflection points, which are points where the trend is either accelerating or decelerating.
When the MACD histogram crosses above the EMA, it is a signal that the trend is accelerating and that a long trade may be in order. When the MACD histogram crosses below the EMA, it is a signal that the trend is decelerating and that a short trade may be in order.
The Elder Impulse System is a versatile indicator that can be used to trade a variety of markets. It is particularly well-suited for trading stocks, currencies, and commodities. The system is also relatively easy to use and can be implemented on any charting platform.
The Elder Impulse System is a powerful tool that can help you to identify trends and reversals. However, it is important to remember that no indicator is perfect and that the system will not always be right. It is important to use the system in conjunction with other forms of analysis, such as fundamental analysis, to make informed trading decisions.
Here are some of the benefits of using the Elder Impulse System:
It is a trend-following indicator, which means that it is designed to identify trends and ride them to their completion.
It is relatively easy to use and can be implemented on any charting platform.
It is versatile and can be used to trade a variety of markets.
Here are some of the limitations of the Elder Impulse System:
No indicator is perfect and the system will not always be right.
It is important to use the system in conjunction with other forms of analysis, such as fundamental analysis, to make informed trading decisions.
The system can be slow to react to changes in the market.
Elder Impulse Sysatem is represented on Trendchecker A by Blue color candles.
MMI Diamond = Market Maker Interest
Market maker interest in TrendChecker A can be determined by using the Average True Range (ATR) indicator. The ATR measures the volatility of a security over a period of time. When the ATR is high, it indicates that the security is volatile and that market makers are likely to be interested in trading it. When the ATR is low, it indicates that the security is not volatile and that market makers are less likely to be interested in trading it.
MMI diamonds can be used to determine manipulation candles by market makers and identify the area where market makers were and are interested. MMI is represented by a Yellow Diamond above candles on TrendChecker A. Be very cautious when you see the MMI diamond on the chart.
Support and resistance
Support and resistance are two important concepts in technical analysis. Support is a price level where buyers are likely to step in and prevent the price from falling further. Resistance is a price level where sellers are likely to step in and prevent the price from rising further.
Support and resistance can be identified on a price chart by looking for areas where the price has previously stopped and reversed direction. Support is typically found below the current price, while resistance is typically found above the current price.
Once support and resistance levels have been identified, they can be used to trade the market. Traders can look to buy when the price approaches support and sell when the price approaches resistance.
Support and resistance can also be used to identify trends. When the price is consistently rising above resistance, it is a sign that the trend is bullish. When the price is consistently falling below support, it is a sign that the trend is bearish.
It is important to note that support and resistance are not always accurate. The price may break through support or resistance levels, which can lead to losses for traders. It is important to use support and resistance in conjunction with other technical indicators to make informed trading decisions.
In TrendChecker A, support and resistance can be identified using the following methods:
Trendlines: Trendlines are lines that connect consecutive highs or lows on a price chart. Trendlines can be used to identify support and resistance levels.
Fibonacci retracement levels: Fibonacci retracement levels are based on the Fibonacci sequence, which is a series of numbers that are found in nature. Fibonacci retracement levels can be used to identify potential support and resistance levels.
Moving averages: Moving averages are averages of the closing price over a specified period of time. Moving averages can be used to identify support and resistance levels.
It is important to note that support and resistance levels can change over time. It is important to monitor the market and adjust your trading strategy accordingly.
Resistance and support is represented as Red Dots above the candles and Green Dots below the candles on TrendChecker A
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