MMaker Trend Indicator
1. Customize the parameters:
- Select Timeframe: Set the desired timeframe to analyze.
- Select Price Source: Specify the data source, such as closing price.
- Moving Average Setup: Select the type of moving average for trend analysis and set its length.
- Keltner Channels: Determine the type and length of the moving average for channels, and set the channel multiplier for channel width.
- Additional parameters: Activate the toggle line display, select its type and length if necessary.
2. Data Interpretation:
- Color bars will help you identify the current trend.
- Keltner Channels will show potential support and resistance levels.
- Switching line can signal a change in trend if activated.
- Signal lines use to identify entry and exit points, entering a trade when the price crosses these lines.
3. Customize notifications:
- Set up notifications to alert you of entry or exit moments based on price crossings of the signal lines.
4. Testing and adjustment:
- Test the indicator on historical data to check its effectiveness.
- If necessary, adjust the settings depending on market conditions and your trading style.