PROTECTED SOURCE SCRIPT
TrendChecker
TrendChecker Indicator Description
TrendChecker is a versatile tool designed to identify market trends and key support/resistance levels using dynamic moving averages (EMAs) and long-term simple moving averages (SMAs).
Key Features:
Short-Term Moving Averages (EMAs):
Uses EMA 13 and EMA 20 to track short-term momentum.
EMA colors dynamically reflect the current trend direction.
Long-Term Moving Averages (SMAs):
SMA 50 (short-term trend, black).
SMA 200 (long-term trend, blue).
The filled area between SMA 50 and SMA 200 highlights key equilibrium zones in the trend.
Candle Colors:
Green candles: Price above SMA 50 – bullish trend.
Red candles: Price below SMA 50 – bearish trend.
Golden Cross and Death Cross:
Golden Cross: SMA 50 crosses above SMA 200 – a signal of a long-term bullish trend.
Death Cross: SMA 50 crosses below SMA 200 – a signal of a long-term bearish trend.
How to Use:
Trend Identification: Quickly determine if the market is in an uptrend or downtrend.
Entry and Exit Signals:
Candles and EMAs highlight optimal entry points.
SMA 50 and SMA 200 help filter false signals.
Momentum Monitoring: EMA 13 and EMA 20 capture short-term trend changes.
Recommendations:
Best suited for 15M, 1H, and 1D timeframes.
Fully customizable with editable colors and moving average lengths.
TrendChecker is a versatile tool designed to identify market trends and key support/resistance levels using dynamic moving averages (EMAs) and long-term simple moving averages (SMAs).
Key Features:
Short-Term Moving Averages (EMAs):
Uses EMA 13 and EMA 20 to track short-term momentum.
EMA colors dynamically reflect the current trend direction.
Long-Term Moving Averages (SMAs):
SMA 50 (short-term trend, black).
SMA 200 (long-term trend, blue).
The filled area between SMA 50 and SMA 200 highlights key equilibrium zones in the trend.
Candle Colors:
Green candles: Price above SMA 50 – bullish trend.
Red candles: Price below SMA 50 – bearish trend.
Golden Cross and Death Cross:
Golden Cross: SMA 50 crosses above SMA 200 – a signal of a long-term bullish trend.
Death Cross: SMA 50 crosses below SMA 200 – a signal of a long-term bearish trend.
How to Use:
Trend Identification: Quickly determine if the market is in an uptrend or downtrend.
Entry and Exit Signals:
Candles and EMAs highlight optimal entry points.
SMA 50 and SMA 200 help filter false signals.
Momentum Monitoring: EMA 13 and EMA 20 capture short-term trend changes.
Recommendations:
Best suited for 15M, 1H, and 1D timeframes.
Fully customizable with editable colors and moving average lengths.
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