Trend Wave Surfer
- Indicators
- Version: 1.12
- Updated: 28 May 2025
- Activations: 20
MT4 Version
OVERVIEW
This indicator integrates a refined trend-following model with dynamic price rejection detection, dynamic candle coloring, and ATR-based target projection, offering traders a complete visual system for identifying and managing trend continuation setups.
It overlays directly on the chart, automatically spots potential trend changes, confirms rejections near adaptive support/resistance, and shows calculated stop-loss and take-profit levels to support structured risk-reward decisions.
Unlike standard indicators that focus only on trend direction or entry signals, this tool blends signal filtering, volatility-adjusted positioning, and staged profit-taking for more informed trading decisions.
CONCEPTS
At its core is a custom Supertrend built using ATR-based bands smoothed through a WMA followed by an EMA, allowing it to track major trend changes while filtering out noise.
A standout feature is rejection logic: the script identifies clusters of candles that "hug" the trend line and counts consecutive bars that reject from it. This often signals upcoming moves. A user-defined threshold ensures only strong rejections are highlighted.
FEATURES
- Trend Detection: Uses a smoothed Supertrend (WMA + EMA) to define trend direction, with shape markers and color-coded bars to visualize shifts.
- Rejection Signals: Identifies price rejections near the trend line after a customizable number of consolidation candles; highlights with ▲/▼ icons for trend continuation setups.
- Target Projection: On confirmed trends, it marks entry, ATR-based stop-loss, and three customizable take-profit levels based on volatility-adjusted multiples.
- Dynamic Updates: Entry, stop-loss, and take-profit levels auto-update in real time based on current volatility.
- Customization: Fully adjustable trend parameters, rejection filters, SL/TP levels, smoothing lengths, and visuals.
- Alerts: Built-in alerts for trend changes, rejections, and when any take-profit level is reached.
- Chart Overlay: Clean, minimal overlay that plots all levels and signals directly on the price chart. Along with dynamic candle coloring that shows the intensity of the bullish and bearish trends
USAGE
Start by adjusting the Supertrend factor and ATR period based on the asset and timeframe—higher settings capture broader trends, lower settings catch quicker moves. Set the rejection confirmation count based on how strict you want the filter—higher counts yield fewer, but more reliable, signals. When the trend shifts, the indicator updates its visuals and, if enabled, displays the full trade structure (entry, SL, TP1–TP3). Rejection markers only appear after sufficient confirmation, ideal for identifying continuation setups. All targets adapt to market volatility using ATR. Set alerts to stay informed even when away from the screen.
If you come across any issues or bugs, or perhaps have any suggestions, feel free to contact me.

Good indicator. Thank you