I wanted to introduce this contract into our futures trading list, and give you the trading chart parameters. In the following sections, we will explain on how to apply the Continuous Trend Indicator on charts, and use the color changes to understand trend changes. Somebody has a beautiful flowchart that shows the way I was only based on the Nikkei that accumulated salesmen during 5 days and today had a big rally, without giving chances of the bears to escape
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Now, I am making this tool available to everyone. In the following sections, we will explain on how to apply the Continuous Trend Indicator on charts, and use the color changes to understand trend changes.
Assuming that you have subscribed to Continuous trend indicator on Trade station App store, and you have used Trade station indicators before, you should be able to follow these instructions easily. If you have not subscribed to the indicator, please do so by visiting Trade Station App Store. If this is the first time you are using Trade Station platform or first time using an indicator on Trade Station, please use help section on Trade Station to learn about how to apply a indicator on a chart.
Click OK, and you will see you chart with Trend plotted below the bars on your chart. If you have not changed the inputs for the colors, green color plot shows an up trend; magenta color plot indicates a down trend; and the white color of the plot indicates that there is no particular market trend present.
As you have seen, Continuous Trend Indicator uses high and low swings to determine the peaks and lows in the chart. These are free studies provided by trade station platform.
For a good comparison, please ensure that input left strength and right strength on these show-me studies matches with that of LowStrength and HighStrength inputs on the Continuous Trend Indicator. Following picture show show-me studies and along with Continuous Trend Indicator on a chart.
Each magenta dot on this image, indicates a swing high, and cyan dot indicates swing low. We will now use these dots to analyze trend direction and understand how Continuous Trend Indicator uses them to determine trend.
As you can see that these dots show the pattern we are looking for an uptrend i. Therefore the plot of Continuous Trend Indicator continue to be of green color on subsequent bars past the second magenta color swing high plot.
As we move further, a large red candle break below both the swing lows. Even though, we do not have series of lower lows and lower highs, the trend can be called down trend.
The change in trend direction is shown with plot color change from green to magenta. Subsequently, you can see two lower high magenta dots , and lower lows cyan colored dots , as indicated by hand drawn white lines joining these swing points. The trend plot therefore, is shown in magenta color indicating down trend. Next, a green bar break above one lower high only.
This does not match with either uptrend or down trend definition. Therefore, we no longer know the market direction. This is indicated by the white color of the trend indicator plot. As we move right, we now have two higher highs and two lower highs see white color line drawn to join the swing points. This meets our up trend definition of up trend. The color of the Continuous Trend Indicator now change from white to green. As you know the continuous trend indicator by itself is not a trading strategy or trading system.
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