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Detect trend and trade stocks/index

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This indicator detect trend on stocks and index.
It has been optimized for small timeframes.
I use this indicator in timeframe 1 minute on DowJones and Dax when I do daytrading.

But you can use it in daily or weekly timeframes too.
When I do trendfollowing on actions, I only search orange arrows.

  • a stock or index in a downtrend is displayed in a red channel. In this case we should only take sell positions.
  • a stock or index in an uptrend is dispayed in a green channel. In this case we should only take buy positions.
    Under the green channel, we can see a orange channel which is a no-trade zone. If the price is in this zone, we should wait before entering a position (buy or sell).

This indicator also shows some buying and selling points. Be careful, I advise you not to take a selling position when the signal is given in a uptrend, unless you have other indicators that allow you to identify a trend return.

  • when a buying point is detected, a green segment is drawn and a dotted segment is drawn to indicate a possible stoploss. A green arrow is addeted when a signal is quite good.
  • when a selling point is detected, a red segment is drawn and a dotted segment is drawn to indicate a possible stoploss. A red arrow is addeted when a signal is quite good.
  • a orange arrow is drawn when we begin a uptrend or a there is a good breakout in an uptrend. This is the better signal to take a buying position.

 

In the video below, you have an example of the use of the “Breakout detector” and “Trend intraday” indicators:

Advantages:

  • you can identify quickly the trend and make no overtrading.
  • this indicator can be combinated with my “breakout”.
  • a screener is available to detect those signals on a list of stocks/index.

1 review for Trend IntraDay

  1. Gilles Goblet (verified owner)

    Even though this indicator was developed for intraday trading, it works very well in conjunction with the screener of the same name for swing trading. Well done to its developer.

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