OPEN-SOURCE SCRIPT
Traders Trend Dashboard
Updated
The Traders Trend Dashboard (TTD) is a comprehensive trend analysis tool designed to assist traders in making informed trading decisions across various markets and timeframes. Unlike conventional trend-following scripts, TTD goes beyond simple trend detection by incorporating a unique combination of moving averages and a visual dashboard, providing traders with a clear and actionable overview of market trends. Here's how TTD stands out from the crowd:
Originality and Uniqueness:
TTD doesn't rely on just one moving average crossover to detect trends. Instead, it employs a dynamic approach by comparing two moving averages of distinct periods across multiple timeframes. This innovative methodology enhances trend detection accuracy and reduces false signals commonly associated with single moving average systems.
Market Applicability:
TTD is versatile and adaptable to various financial markets, including forex, stocks, cryptocurrencies, and commodities. Its flexibility ensures that traders can utilize it across different asset classes and capitalize on market opportunities.
Optimal Timeframe Utilization:
Unlike many trend indicators that work best on specific timeframes, TTD caters to traders with diverse trading preferences. It offers support for intraday trading (1m, 3m, 5m), short-term trading (15m, 30m, 1h), and swing trading (4h, D, W, M), making it suitable for a wide range of trading styles.
Underlying Conditions and Interpretation:
TTD is particularly effective during trending markets, where its multi-timeframe approach helps identify consistent trends across various time horizons. In ranging markets, TTD can indicate potential reversals or areas of uncertainty when moving averages converge or cross frequently.
How to Use TTD:
1. Timeframe Selection: Choose the relevant timeframes based on your trading style and preferences. Enable or disable timeframes in the settings to focus on the most relevant ones for your strategy.
2. Dashboard Interpretation: The TTD dashboard displays green (🟢) and red (🔴) symbols to indicate the relationship between two moving averages. A green symbol suggests that the shorter moving average is above the longer one, indicating a potential bullish trend. A red symbol suggests the opposite, indicating a potential bearish trend.
3. Confirmation and Strategy: Consider TTD signals as confirmation for your trading strategy. For instance, in an uptrend, look for long opportunities when the dashboard displays consistent green symbols. Conversely, in a downtrend, focus on short opportunities when red symbols dominate.
4. Risk Management: As with any indicator, use TTD in conjunction with proper risk management techniques. Avoid trading solely based on indicator signals; instead, integrate them into a comprehensive trading plan.
Conclusion:
The Traders Trend Dashboard (TTD) offers traders a powerful edge in trend analysis, combining innovation, versatility, and clarity. By understanding its unique methodology and integrating its signals with your trading strategy, you can make more informed trading decisions across various markets and timeframes. Elevate your trading with TTD and unlock a new level of trend analysis precision.
Originality and Uniqueness:
TTD doesn't rely on just one moving average crossover to detect trends. Instead, it employs a dynamic approach by comparing two moving averages of distinct periods across multiple timeframes. This innovative methodology enhances trend detection accuracy and reduces false signals commonly associated with single moving average systems.
Market Applicability:
TTD is versatile and adaptable to various financial markets, including forex, stocks, cryptocurrencies, and commodities. Its flexibility ensures that traders can utilize it across different asset classes and capitalize on market opportunities.
Optimal Timeframe Utilization:
Unlike many trend indicators that work best on specific timeframes, TTD caters to traders with diverse trading preferences. It offers support for intraday trading (1m, 3m, 5m), short-term trading (15m, 30m, 1h), and swing trading (4h, D, W, M), making it suitable for a wide range of trading styles.
Underlying Conditions and Interpretation:
TTD is particularly effective during trending markets, where its multi-timeframe approach helps identify consistent trends across various time horizons. In ranging markets, TTD can indicate potential reversals or areas of uncertainty when moving averages converge or cross frequently.
How to Use TTD:
1. Timeframe Selection: Choose the relevant timeframes based on your trading style and preferences. Enable or disable timeframes in the settings to focus on the most relevant ones for your strategy.
2. Dashboard Interpretation: The TTD dashboard displays green (🟢) and red (🔴) symbols to indicate the relationship between two moving averages. A green symbol suggests that the shorter moving average is above the longer one, indicating a potential bullish trend. A red symbol suggests the opposite, indicating a potential bearish trend.
3. Confirmation and Strategy: Consider TTD signals as confirmation for your trading strategy. For instance, in an uptrend, look for long opportunities when the dashboard displays consistent green symbols. Conversely, in a downtrend, focus on short opportunities when red symbols dominate.
4. Risk Management: As with any indicator, use TTD in conjunction with proper risk management techniques. Avoid trading solely based on indicator signals; instead, integrate them into a comprehensive trading plan.
Conclusion:
The Traders Trend Dashboard (TTD) offers traders a powerful edge in trend analysis, combining innovation, versatility, and clarity. By understanding its unique methodology and integrating its signals with your trading strategy, you can make more informed trading decisions across various markets and timeframes. Elevate your trading with TTD and unlock a new level of trend analysis precision.
Release Notes
- Enhanced Customization: You can now customize the appearance of uptrend and downtrend indicators to better suit your trading preferences.
- Improved Setting Names: We've renamed certain settings to make them more intuitive and user-friendly, making it easier to configure the dashboard according to your needs.
- Dashboard Appearance Fix: We've resolved an issue related to the dashboard's appearance when using the "large" size option, ensuring a smoother and more visually appealing experience.
- General Refactoring: We've conducted general code refactoring to improve the script's efficiency and maintainability, resulting in a more streamlined and optimized performance.
Release Notes
Added more timeframes to the dashboardRelease Notes
- Updated the logic of trend identification. Now, instead of comparing fast and slow MAs, we compare an EMA value of the current and the previous candle (50 EMA by default) - Added a neutral trend indicator
- Removed 3M, 6M and 12M timeframes
Release Notes
From now on, the neutral trend indicator also determines if there is no impulse. Think twice before opening orders when ⚫️ appears, because the next couple of candles may unpleasantly surprise you.Release Notes
New alerts are now available to detect changes in trend and trend alignment on multiple timeframes ⏰Release Notes
Fixed an issue where the dashboard was showing misleading information for closed markets.Release Notes
Provided an option to choose a Trend Identification Approach 🛠️Release Notes
Update the alert conditions ⏰Release Notes
Added 12H timeframe at the request of the community 🙌Release Notes
Added an option to paint the bars 🎨Release Notes
Add an option to name the table 📝Release Notes
Fix the dashboard header shift 🛠️Release Notes
Added 2m timeframe at the request of the community 🙌Release Notes
Fix 2m indicator 🛠️Release Notes
Just a little refactoring 🛠️Release Notes
Update spelling 🪄Release Notes
Added 3D timeframe at the request of the community 🙌Release Notes
- Add a new column with an EMA- Update dashboard title strings
- Remove unused timeframes
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.