™TʀᴀᴅᴇCʜᴀʀᴛɪsᴛ Tʀᴇɴᴅsᴇᴛᴛᴇʀ

™TradeChartist Trendsetter is an elegantly designed functional indicator that helps spot price trends based on user input and volatility to generate high probability BUY and SELL signals.

1. What does ™TradeChartist Trendsetter do?

• Plots high probability BUY/SELL signals based on user input and price volatility.
  
  
• Plots recommended Stop Loss and SOS signals.
  
  
• Plots regular RSI divergences based on user input.
  
  
• Plots Linear Regression trend lines based on user input.
  
  
• Displays Trendsetter Dashboard with useful trade information.
  
  
• Displays real time gains tracker.
  
  
• Tracks another symbol on Dashboard based on user input.
  
  
• Alerts when BUY and SELL signals are generated.

2. What markets can this indicator be used on?

• Forex
  
  
• Stocks - Signal prices calculated taking gaps into account.
  
  
• Commodities
  
  
• Cryptocurrencies
  
  
• and almost any asset on Trading View.

Works really well when there is good volume, volatility or both in the asset traded/observed.


3. Do the indicator signals repaint?

No. Once the BUY and SELL signals are generated with entry price (open price of signal candle), there is no repainting.

This can be verified using Trading View Bar Replay to check if the signals stay in the same candle in real-time as the Bar Replay.


4. Does the indicator send alerts when a signal is generated?

Yes. Traders can get alerts by setting up Trading View alerts for BUY/SELL signals. For confirmed BUY/SELL alerts, 'Once Per Bar' must be used as there is no need to wait for the candle close.


Example Charts

• GBP-USD 1hr chart with indicator plots description
  
  
  
  
  
• GOLD 4hr chart using Daily HTF resolution from indicator settings.
  
  
  
  
  
• SPX 15m chart using Daily HTF resolution with RSI divergences.
  
  
  
  
  Note: Default settings work really well for most assets and time frames. Change HTF resolution (default 4hr) from indicator settings and make sure it is higher time frame than the chart resolution.
  
  

Release Notes:

Code updated - Improved Dashboard alignment and some complex computations simplified.

Release Notes:

Code optimised

Release Notes:

Added : Auto HTF - Uncheck for manual custom HTF