The indicator checks trend direction on multiple timeframes. It send you alerts when trend changes direction on two timeframes. It suggests you entries for reversal trades and trades on pullbacks in direction of the trend.
When the price is trending up on both, a base and higher time frames, the indicator colors candles in green color
When after a period when prices were trending down price breaks over a minor resistance (the thin red line ) and a bar closes over that minor resistance the trend switches from down (red color) to neutral ( grey color ).
When after a period when prices were trending up price breaks under a minor support (the thin line ) and a bar closes under that minor support the trend switches from up (green color) to neutral ( grey color )
When a new uptrend is detected signal “Buy” is drawn on the chart and Alert is generated
When a new downtrend is detected signal “Sell” is drawn on the chart and Alert is generated
HIGH RISK WARNING
CastAwayTrader LLC provides a number of indicators to subscribers of specific plans solely for informational purposes, shall not be considered a complete trading system, is not intended to be used as a personalized investment recommendation, and is not attuned to any specific portfolio or to any user’s particular investment needs or objectives.
The indicators provides trade set-ups and alerts that are for educational and hypothetical purposes only and shall not be considered trade recommendations.
Any signals or trading setups drawn by the indicators is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All users of the indicators must determine for themselves what specific investments to make or not make and are urged to consult with their own independent financial advisors with respect to any investment decision.
CastAway Trader LLC, the publisher of indicators is not registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority.
CastAway Trader LLC reserves the right to un-publish this indicator or change it without any written notice.
Trading stocks, options, or futures carries a high level of risk, and may not be suitable for all investors. Before deciding to trade, you should carefully consider your objectives, financial situation, needs and level of experience. CastAway Trader LLC provides general overview of trading methods that does not take into account your objectives, financial situation or needs. The content of this website must not be construed as personal advice. The possibility exists that you could sustain a loss in excess of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading. You should seek advice from an independent financial advisor. Past performance is not necessarily indicative of future profits.
Past results are not indicative of future profits.