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Pure Price Action Trend indicator
Pure 'unadulterated' price action based trend indicator. Helping you to trade profitably by staying with trends longer! Effectively the indicator draws a simple bullish or bearish trend line based on the current price action behavior. If the primary trend line is green, price action is bullish. If it is red, price action is bearish.
Two of the biggest mistakes traders make is either entering into trades against the trend or exiting trades too soon and missing out on the big moves. This pure price action indicator solves these two problems by using pure price action to keep traders with the trend for as long as possible.
How can the indicator be used?
Show price structure
Time entries and exits
Avoid false signals
With a BSc in Business Information Technology, Juan traded a 7-year career as a Systems Analyst for full-time trading. Through logic and methodology, Juan's created numerous successful trading systems and indicators. His contributions to ProRealTime are a testament to his expertise, making him a respected figure in the community.
Trend alignment with simple price action principles
Two of the biggest mistakes traders make is either entering into trades against the trend or exiting trades too soon and missing out on the big moves. This pure price action indicator solves these two problems by using pure price action to keep traders with the trend for as long as possible. It may look simple but it is based on sound time tested price action principles.
Effectively the indicator draws a simple bullish or bearish trend line based on the current price action behavior. If the primary trend line is green, price action is bullish. If it is red, price action is bearish. Furthermore it has the ability to display pullbacks as well as price continuation via intuitive signals that can be enabled in the indicator settings menu. You also have the option to enable the Price Structure line which show the previous high and low swing points (also known as fractals).
The majority of traders are always looking for the ‘perfect’ moving average combination or the ‘best’ and ‘most advanced’ new indicator. But the problem is these are usually either lagging indicators or provide so many ‘false’ signals that you don’t know when or how to actually use it. Ultimately, there is no better indicator than pure price action. As a matter of fact, all indicators are actually doing exactly the same thing, and that is interpreting price action in some way or another.
And although this approach has its merits, nothing will help keep you with the trend better than simple pure ‘unadulterated’ price action. And that is exactly what this indicator does very well.
How to use the indicator
The indicator is applied directly to the chart and will draw two parallel trendlines, the first would be that of the primary trend in either green (bullish) or red (bearish) and the second is a neutral line in blue which will occasionally either turn green or red to indicate ‘counter trend’ price action which typically appear during a pullback. The indicator also features built-in signals that can indicate pullbacks as well as trend continuation candles. Another feature is the price structure line which shows the level of the last swing high/low (which some traders like to use for stops)
The indicator has 6 customizable parameters:
Simple moving average period used to ‘calibrate’ the primary trend.
Option to enable or disable additional trend confirmation (slower to respond to trend changes, but can indicate much longer trends)
Option to enable or disable additional price structure confirmation (better defined fractals)
Tolerance factor, controlling price action sensitivity (Default: 1 point)
Option to enable or disable the Price Structure Line showing the last swing high and low
Option to enable or disable the Pullback and Continuation Signals
This indicator can also be used as a companion to my very powerful RSI Power Signal v3 indicator to even better time entries and exits. Combined these two specialized indicators gives you the best of both price action and underlying market strength and momentum, giving you a trading edge like never before.