About the trendifier indicator

Trendifier indicator

The trendifier indicator is a custom indicator I have created to use on tradingview.

Key feature of the indicator

It has a macro trend direction line which shows the general price trend – green is bullish; red is bearish; and orange is neutral.

The indicator also prints micro trend red or green dots for each candle as an additional indication of trend (or none will be printed if the trend is uncertain).

Additionally, it prints an “x” when momentum in either direction appears to be exhausted, and an “R” when price action looks like it is reversing.

How to use the indicator

You can use the signals in the indicator in different ways for entries and exits – for example, waiting for bullish/bearish dots to confirm above or below the direction line respectively.

In all timeframes you should wait for the relevant candle to close and any signal for that candle to be confirmed.

Limitations

No indicator is perfect – if they were they wouldn’t be publicly available and would instead be secretly making their owners millionaires and billionaires. But this indicator will give you a valuable insight into price trends, and if it looks like trends may be reversing – that sort of insight should be a key part of any trading strategy.

This indicator can be used on any timeframe but, like most indicators, it typically works best on higher timeframes (daily, weekly etc) because there is less “noise” and fakeouts.

How can it help you?

Most retail traders get recked because they can’t identify high timeframe trend changes and get influenced into hodling forever by the up-only crew, or from never buyin by the down-only crew.

Using this indicator doesn’t guarantee you perfect entries and exits but if, for example, you use it on the weekly and daily timeframes it should help you identify the general trend and potential entry and exit points.