TrendWave Bands

This is a trend-tracking tool, originally by BigBeluga on TradingView, designed to adjust automatically to current market movements using upper and lower dynamic bands. It uses primary waves to view the strength and persistence of a trend, and includes secondary wave bands to assist with deeper analysis.

Main Features:

Smart Adaptive Bands

• In uptrends, a dynamic lower band is displayed, while in downtrends, an upper band appears.

• These serve as moving zones of support or resistance, offering insights into potential trade setups.

Wave Bands for Momentum Insight:

• A secondary, dashed band appears on the opposite side of the trend to give further confirmation.

• In bullish trends, this band appears above price action, while in bearish phases, it forms below.

Reversal Markers:

• Circular signals mark key turning points in the trend, helping identify when momentum is shifting.

• These act as cues for possible entries or exits, highlighting when the market may be changing direction.

How to Use It:

• Ride the Trend: Use the active trend band (lower in uptrends, upper in downtrends) to stay aligned with momentum.

• Spot Reversals: Look for circular markers to flag potential changes in direction.

• Adapt to Volatility: The spacing and shape of the bands adjust with market volatility, offering a visual guide to adjust your strategy and risk

• Increase the History: Increase the Max Bars in the settings (default 5000 bars) to view the indicator over longer periods