Overview
Apply TrendChecker B
To apply the TrendChecker B 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 B is the visible part below the chart as you can see in the example photo given below.
Learn TrendCheckr B
TrendChecker B indicator indicates volume flow (money flow) and Qualitative Quantitative Estimation waves and their crossovers. QQE expands on RSI by adding two volatility-based trailing waves.
Momentum - Momentum is a technical indicator that measures the speed and direction of price movement. It is calculated by taking the difference between the current price and the price a certain number of periods ago, and then dividing that difference by the price a certain number of periods ago.
Momentum can be used to identify trends and to predict future price movements. A rising momentum indicates that the price is rising and that the trend is likely to continue. A falling momentum indicates that the price is falling and that the trend is likely to continue.
Momentum can be used to trade in both directions. Traders can buy when momentum is rising and sell when momentum is falling.
Momentum is a powerful technical indicator that can be used to identify trends and predict future price movements. However, it is important to remember that momentum is not a perfect indicator and that it can give false signals. It is important to use momentum in conjunction with other technical indicators and fundamental analysis to make informed trading decisions. Momentum is shown as the blue and purple area on TrendChecker B
Volume Money Flow Index - The Money Flow Index (MFI) is a technical oscillator that uses price and volume data for identifying overbought or oversold signals in an asset. It can also be used to spot divergences that warn of a trend change in price. Volume Above the Zero line indicated by the Green color that shows the volume in that particular asset is rising as traders are buying. The Volume below the Zero line is indicated by Red color that shows the volume in that particular asset is going out means traders are selling their position. MFI can be used with all timeframes. The volume money flow index is represented by Green and red colors on TrendChecker B.
Big Red Dot - when TrendChecker B QQE waves crossover happens above the +20 Line on TrendChecker B oscillator. On a higher time frame, it means that the price of an asset is likely to go down and the markdown phase will start. Normally you see TrendChecker A sell signal and a big red dot at the same time that suggests the trend is strong.
Big Green Dot - when TrendChecker B QQE waves crossover happens below the -20 Line on TrendChecker B oscillator. On a higher time frame, it means that the price of an asset is likely to go up and the markup phase will start. Normally you see TrendChecker A Buy signal and a big green dot at the same time that suggests the trend is strong.
Small Red Dot - when TrendChecker B QQE waves crossover happens between the -20 and +20 range it will print a small red dot that suggests the trend is exhausted or may go down/ sideways for a time. Higher the timeframe higher the confidence.
Small Green Dot - when TrendChecker B QQE waves crossover happens between the -20 and +20 range it will print a small Green dot that suggests the trend is exhausted or may go up/ sideways for a time. Higher the timeframe higher the confidence.
Divergence - Divergence is when the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator, or is moving contrary to other data. Divergence warns that the current price trend may be weakening, and in some cases may lead to the price changing direction
TrendChecker B Indicator will print Hidden and Real, Bullish and Bearish divergence whenever those are realized on the chart.
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