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In this blog post we'll go over in detail the best trend indicator on TradingView, TrendCandles™️, which colors all the candles on your chart either green (up-trend) or red (down-trend). This indicator is based on the timeless trend following strategy which works on every asset and timeframe. You can setup alerts to notify you in real time when either an entry or exit signal has been generated on any asset and timeframe you trade on.
Identifying market trends is a key component of successful trading, but finding the right indicator to do so can be a challenge. TradingView, the popular online charting platform, offers a vast array of trend indicators to choose from, each with its own strengths and weaknesses. In this blog post, we will explore one of the most effective trend indicators available on TradingView. This custom indicator, called TrendCandles, has gained a reputation among traders for its accuracy and flexibility.
By analyzing price action and volume data, TrendCandles provides valuable insights into market trends and can help traders make more informed decisions. In this post, we will take a closer look at the features that make TrendCandles the best trend indicator on TradingView and how it can be used to enhance your trading strategy.
How does the Trend Candles indicator work?
TrendCandles is a custom indicator designed to help traders easily identify market trends on TradingView charts. The indicator works by analyzing price action and volume data to determine whether an asset is in an uptrend or downtrend.
Every candlestick on the chart is color-coded either green or red to represent the current trend of the asset. If the majority of the candles are green, then the asset is in an uptrend. Conversely, if the majority of the candles are red, then the asset is in a downtrend.
TrendCandles works on all assets and timeframes, making it a versatile tool for traders of all levels. Whether you're a day trader, swing trader, or long-term investor, TrendCandles can help you quickly visualize the trends of any asset.
Using TrendCandles is incredibly easy. Simply add the indicator to your TradingView chart and the green and red candles will appear automatically. With this visual aid, traders can quickly assess the overall trend of an asset and make more informed trading decisions.
Here's an example of what TrendCandles looks like on a S&P500 ETF (SPY) 1-Hour Chart:
You can use the indicator to help you make more successful trading decisions, like when may be a good time to sit out of the market and when to get back in. Combine it with other indicators to increase your win rate even further.
With its simple yet powerful design, TrendCandles is one of the most effective trend indicators available on TradingView. By using this custom indicator, traders can gain valuable insights into market trends and enhance their overall trading strategy.
Academic Research Findings on Trend Following Across 200 Years of Financial Markets
Trend following is an investment strategy that involves identifying the direction of asset prices and taking positions in those assets in the direction of the trend. Academic research has shown that trend following has been a profitable strategy across a variety of asset classes over the past 200 years.
One study published in the Journal of Finance in 2014 examined the performance of trend following across 67 different assets from 1880 to 2013. The authors found that trend following was consistently profitable across different asset classes, including stocks, bonds, commodities, and currencies. The authors also found that trend following strategies were able to generate returns with lower volatility than other strategies.
Another study published in the Journal of Portfolio Management in 2017 examined the performance of trend following in the stock market from 1801 to 2015. The authors found that trend following was a profitable strategy over this long time period, and that it was particularly effective in bear markets when stock prices were falling.
The benefits of trend following for individual investors are several. First, trend following can help individual investors avoid the emotional pitfalls of investing, such as buying and selling based on fear or greed. By following a rules-based approach to investing, individual investors can remove emotion from the decision-making process and stick to a disciplined strategy.
Second, trend following can provide diversification benefits for individual investors. By investing across different asset classes and using trend following strategies within each asset class, individual investors can spread their risk and potentially reduce their overall portfolio volatility.
Thirdly, trend following can be a cost-effective approach for individual investors as it can be executed through the use of Trend Candles or other affordable investment tools. This can enable investors to maintain a low investment cost, thereby improving their overall investment returns over time.
Examples of Trend Candles Indicator
Below are some examples of Trend Candles on different assets for your reference.
APPLE 1 Minute Chart
GOLD Daily Chart
Bitcoin Daily Chart
TESLA Daily Chart
How to Setup Real Time Trading Alerts
You can conveniently receive real-time trading alerts using TradingView whenever the Trend Candles indicator generates a buy, sell, or exit signal, thereby eliminating the need to monitor the charts all day long.
To set up alerts in TradingView for the Trend Candles indicator, follow these simple steps:
Log in to your TradingView account and navigate to the chart you wish to set up alerts for.
Add the Trend Candles indicator to the chart by clicking on the "Indicators" button at the top of the chart, searching for "Trend Candles", and selecting it from the list of available indicators.
After adding the Trend Candles indicator to the chart, click on the "Alerts" button located at the top of the chart.
Click on "Create Alert" and choose "Trend Candles" as the condition.
Select the asset and desired timeframe for which you want to receive alerts.
Choose the type of alert you prefer to receive (such as email, popup, SMS) and provide the necessary details.
Set the trigger conditions for the alert, such as "Crosses above" for the upper red line or "Crosses below" for the lower green line.
Click "Create" to save your alert.
Once you have set up your alert, you will receive notifications whenever the Trend Candles indicator issues a trading signal based on the conditions you specified. This feature can help you keep a close eye on your trades and take prompt action when required.
How to Get Access to Trend Candles™️
Head over to our trading indicator store now and purchase Trend Candles to start using it immediately in your TradingView account. With a user-friendly setup process that takes only a few minutes, you can be up and running in no time. Our secure payment options through PayPal or Stripe ensure that you can feel confident about your purchase.
Moreover, Trend Candles is an exclusive indicator that you won't find anywhere else on the internet. Don't let this opportunity to simplify your trading strategy and increase your number of winning trades pass you by.
Visit our indicator store page and get started with Trend Candles today!