[TTI] Power Bars (Simpler 10x Bars PRO)

The Power Bars (10x Bars PRO) indicator is inspired by the 10x Bars from Simpler Trading, developed by John Carter. The indicator is designed as an exact match to the original 10x Bars, aiming to provide the same level of efficiency and functionality as the original version.

The Power Bars (10x Bars) indicator helps traders monitor trend quality and strength by incorporating the calculations of the ADX and DMI indicators. It plots bars in three colors - green, yellow, or red - based on the underlying trend direction and conviction. The indicator calculates if the ADX is positive and above certain thresholds in order to conclude a bullish momentim. Additionally, it also uses above average volume to increase probability of success.

🟩Green bars: Indicate conviction and trend to the upside.
🟥Red bars: Indicate conviction and trend to the downside.
🟨Yellow bars: Indicate no strong directional conviction.
🔵Additionally, bars with a dot signify above average volume (threshold is controlled in settings, but by default it is set on +50%) on the given time frame, indicating stronger conviction in the move.

The Power Bars (10x Bars) indicator simplifies the decision-making process by directly displaying the information from the underlying ADX and DMI calculations on your charts. To use the indicator effectively:

1️⃣Trade in the direction of the 10x Bars to increase the probability of success. Green bars indicate bullish trends, and red bars indicate bearish trends.
2️⃣For yellow bars, consider avoiding directional setups or trade them in a non-directional manner until a directional conviction is established.
3️⃣Combine the 10x Bars with volume information to strengthen the signal, as John Carter emphasizes the importance of momentum and volume in successful trading.

By using the Power Bars (10x Bars) indicator, you can quickly understand the trend quality and strength and make informed trading decisions accordingly. This indicator works well as a complement to other trading tools like the squeeze v2 pro, providing valuable insights into the trend direction and conviction.

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