The trend waves indicator makes trending trends and reversals much easier. At first glance, it looks a bit like a Keltner channel, but it actually is very different. The indicator can be used by trend traders looking to trade the next pullback with the trend, but also by reversal traders.
1.1 Custom coded center-line indicating the trend
At the base, we see a color-coded center line which indicates if the trend is up, down, or flat. This centerline has been custom programmed and is not a simple moving average. Notice how it stays flat when the market is choppy and starts moving up or down when markets start trending. This alone helps you to stay out of those tricky choppy markets where lots of traders give back all the money they earned earlier.
2. ATR based outer bands
Next, we see 2 outer bands. These bands are placed at a user-defined ATR offset from the trendline. So when volatility picks up and the market starts swinging more wildly these bands will move further away from the centerline. And when the market is more relaxed we will see that the bands move closer to the centerline.
3. ATR based width of outer bands
Also, the width of the outer bands is based on the ATR. So again when market volatility picks up we will see that the bands will become wider. And when market volatility returns back to normal then the bands will shrink again
The indicator settings are surprisingly simple
This specifies the period used for the trend line
2.2 ATR Period
This specifies the ATR period for the following two multipliers
2.3 ATR Multiplier offset
this specifies the distance between the middle trend line and the outer bands in terms of the ATR
2.4 ATR Multiplier width
This specifies the width of the outer bands in terms of the ATR
03. AlertsThe indicator can give alerts when the trend changes from bearish to bullish or vice versa. Simply enable the alerts, choose a sound and sit back and relax. The indicator will notify you when a trend change occurs
04. Bloodhound/Strategy support
- Clearly identifies trend
- ATR based bands which can be used for trading reversals and pullbacks
- Allows different color styling for all 4 different levels
- Supports for bloodhound/strategies
- Works on any market
- Works on any timeframe
- Works on any bar type
- Works on any NinjaTrader version
18-dec -2021 v220.127.116.11
- First released
All our indicators and packages come with
- a one-time fee only
- lifetime license for 1 pc (we offer 20% discount for 2nd licenses)
- includes free future updates
We also offer a 100% free 5-day trial of all our indicators allowing you to test our software before you decide to invest in it. Since you are able to test all our software before buying it all sales are final and non-refundable!