This indicator consists of 4 Different Trend Indicators: Gann HILO Activator , Trend Wave Oscillator and 2 Parabolic SAR’s.
HOW TO USE:
1. When the majority of the meters turn green, it is a sign the market is heading up.
2. When the majority of the meters turn red, it is a sign the market is going down.
– The user has the option to select how many meters must align for a signal to show.
– The indicator also has the ability to setup Alerts when the selected number of meters turn green or red. This feature is also signaled by the red or green vertical lines.
This is script is meant to be used as an auxiliary Indicator to confirm your entries, but it is as good on it’s own, as you can see in the Backtesting Results.
We used the best combination of indicators so you can be sure that, no matter what ticker you’re trading (Forex, Stocks or Crypto) – when you get a full green, or full red meter, the price is 100% trending in that direction!
* This indicator does NOT Repaint! None of our published indicators repaint!
1.1 Release Notes: Hotfix
– Fixed an issue with the Trend Meters counter.