Dr Alexander Elder - Triple Screen in One Opportunity Window

Elder Triple Screen - Screen 3 (Opportunity Windows)
Overview
This indicator is the visual overlay component of Dr. Alexander Elder's renowned Triple Screen Trading System. It identifies and highlights precise trading opportunities directly on your price chart by combining signals from Screen 1 (trend identification) and Screen 2 (pullback detection).

What It Does
Screen 3 creates colored opportunity windows on your chart that show exactly when market conditions align for potential trades:

🟢 GREEN WINDOWS = LONG opportunities (uptrend with pullback)
🔴 RED WINDOWS = SHORT opportunities (downtrend with rally)
These windows appear as subtle background shading with clear triangular markers when opportunities open, making it easy to spot ideal entry zones at a glance.

How It Works
The indicator synthesizes data from two higher timeframes:

Screen 1 (Default: Weekly) - Trend Direction

Uses MACD histogram to identify the market tide
Rising MACD = Uptrend, Falling MACD = Downtrend
Screen 2 (Default: Daily) - Entry Timing

Uses Force Index to detect pullbacks and counter-moves
Negative Force Index in uptrend = buyers losing steam (buy opportunity)
Positive Force Index in downtrend = sellers losing steam (sell opportunity)
Screen 3 - This Overlay

Combines both screens to highlight actionable trading windows
Visual background colors show when conditions align
Real-time status table displays current market state
Key Features
✅ Multi-Timeframe Analysis - Fully customizable timeframes for Screen 1 and Screen 2
✅ Visual Clarity - Colored backgrounds and markers make opportunities obvious
✅ Real-Time Status Table - Shows current trend, Force Index state, and active setup
✅ Smart Alerts - Get notified when LONG or SHORT windows open
✅ No Repainting - Uses proper security settings to prevent look-ahead bias

How To Use
Apply the indicator to your trading timeframe (typically intraday or hourly)
Wait for a colored opportunity window to appear
When a GREEN or RED window opens, use Screen 3 (your execution timeframe) to find precise entries using your preferred trigger (breakouts, oscillators, etc.)
The status table in the top-right corner shows the current market state
Recommended Settings
Screen 1 Timeframe: Weekly (W) for swing trading, Daily (D) for day trading
Screen 2 Timeframe: Daily (D) for swing trading, 1H-4H for day trading
Execution Timeframe (chart): 1-5 times smaller than Screen 2
Part of the Triple Screen System
This indicator works best when combined with:

Screen 1 MACD indicator (trend identification)
Screen 2 Force Index indicator (pullback detection)
Together, these three screens form Elder's complete trading methodology, helping you trade in the direction of the tide while timing entries during favorable pullbacks.

About Elder's Triple Screen
Developed by Dr. Alexander Elder, the Triple Screen Trading System is a proven approach that uses multiple timeframes to reduce risk and improve trade selection. It's designed to keep you on the right side of the market while avoiding premature entries.

Note: This indicator is for educational and informational purposes. Always practice proper risk management and combine with your own analysis before trading.