Discussing the article: "Price Action Analysis Toolkit Development (Part 17): TrendLoom EA Tool"

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Check out the new article: Price Action Analysis Toolkit Development (Part 17): TrendLoom EA Tool.

As a price action observer and trader, I've noticed that when a trend is confirmed by multiple timeframes, it usually continues in that direction. What may vary is how long the trend lasts, and this depends on the type of trader you are, whether you hold positions for the long term or engage in scalping. The timeframes you choose for confirmation play a crucial role. Check out this article for a quick, automated system that helps you analyze the overall trend across different timeframes with just a button click or regular updates.

Combining the Signals

  • The three individual signals (one from each timeframe) are added together.
  • Determining the Final Signal:
  • If the sum is 2 or more, it indicates strong bullish momentum. The EA returns a "BUY" signal.
  • If the sum is -2 or less, it indicates strong bearish momentum. The EA returns a "SELL" signal.
  • Otherwise, the signals are mixed or neutral, so the EA returns "NEUTRAL".

Let's review the following diagram to better understand the process.

Flow Diagram

Author: Christian Benjamin

 
Wow Fantastic ,I can see there is a lot of effort put into this , Thank you for sharing you approach and code 
 
linfo2 #:
Wow Fantastic ,I can see there is a lot of effort put into this , Thank you for sharing you approach and code 
You are welcome. Thanks you too for reaching out👏.
 
really like your work, have been following. good range of ideas, with implementation. thank you!
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