Tiger Trend – Price Action Signal Indicator
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Tiger Trend is a dynamic trend indicator designed to detect potential trend reversals based on adaptive support and resistance levels calculated from recent price ranges. It helps traders identify when momentum may be shifting by analyzing closing prices relative to these dynamically adjusted thresholds.
Core Concept Includes:
- Calculation of dynamic support/resistance levels based on average price ranges and a user-defined risk parameter
- Detection of trend direction changes when price closes above or below these adaptive levels
- Visual signals with arrows marking potential buy and sell reversal points on the chart
- Alert system synchronized with arrow signals to notify traders of trend shifts in real-time
Tiger Trend is especially useful for intraday and swing traders who want to identify early shifts in market momentum.
How It Works
Signal generation is based on:
- Range Analysis: The indicator calculates the average range over a specified number of bars to gauge recent volatility.
- Dynamic Thresholds: Support and resistance levels are dynamically adjusted according to the range and a risk parameter set by the user.
- Trend Detection: When price closes below the lower threshold, a potential downtrend is signaled; when it closes above the upper threshold, an uptrend is signaled.
- Signal Synchronization: Arrows are plotted exactly when trend changes are detected, and alerts are triggered simultaneously.
- Confirm Closed Candle: When enabled, signals and alerts are only generated after the candle closes to avoid false signals and repainting.
All calculations are done on closed candles if ConfirmClosedCandle is enabled, ensuring reliable signals.
Arrows and Alerts
The indicator provides clear visual and audio signals to assist decision making:
- Aqua Arrows: Indicate a shift into an uptrend (buy signal).
- Violet Arrows: Indicate a shift into a downtrend (sell signal).
Arrow positions are adjusted based on recent volatility to make signals visually clear and meaningful.
Parameters Overview
- RISK: Adjusts sensitivity of trend detection by modifying dynamic threshold levels.
- CountBars: Number of bars used for calculating the average range and indicator calculations.
- ConfirmClosedCandle: When true, signals and alerts are generated only after candle close to prevent repainting.
All settings can be tailored to fit various trading styles from scalping to swing trading.
Best Use Practices
- Recommended Markets: Works well on Forex majors and liquid markets.
- Best Timeframes: M1 to M30 for scalping.
- Sessions: Most effective during high volatility periods such as London and New York sessions.
