The TFS All Timeframe Trend Summary serves as an indicator that consolidates moving average values across various time periods. This tool is designed to facilitate trading decisions for those who closely monitor market trends. Relying solely on the moving average of a single timeframe can be deceptive, as trends may be evolving on higher or lower timeframes.
TFS All Timeframe Trend Summary Indicator
Emphasis on Extended Timeframes
To gauge a dependable long-term trend, it is crucial to consider higher timeframes such as daily, weekly, and monthly. This indicator aids in timing entry positions within the prevailing trend.
An exceptionally bullish trend is identified when all the relevant moving averages exhibit a bullish trajectory, while an extremely bearish trend is characterized by bearish movements in all moving averages.
Signaling a Shift in Trend
If daily, weekly, and monthly timeframes indicate a bullish trend, while others remain bearish, it signals a potential reversal in the shorter timeframe from bullish to bearish.
Should the moving averages in the longer timeframe also shift to bearish, it may serve as a signal for an overall trend change.
Conversely, if lower timeframes like M1, M5, and M15 start displaying bullish signals, it suggests that any correction within the uptrend may be concluding, prompting consideration for a new buy position. The inverse holds true for initiating bearish positions.
Customize Your Moving Averages
Upon applying this indicator to your chart, you have the flexibility to choose the moving average type through the MA Method option in the Input tab.