TIGERMOOD TREND

🔶 About Tigermood Trend for TradingView.

Tigermood Trend is a trend detector that uses several logics including but not limited to volatility , momentum, key fibonacci levels and trend changing logic to generate a reliable trend on most time frames and applicable for Stocks, futures , Forex, and Cryptos.

Unlike other trend indicators, Tigermood Trend is as simple as it looks but uses several behind-the-scene price action algorithms that work in tandem to create a trend to keep the trader as long as market is trending and hence streamlines their trades accordingly.

🔶 Logic behind Tigermood Trend

• Detecting the Fibonacci lows and highs (Hooks) after a trend change or a major trend pivot is formed.
  
• Once a fibonacci hook is detected, key fibonacci levels are calculated and ready to be applied to the trend on event triggers.
  
• To control the optimal fibonacci level to be applied a moving average is added to the logic with length from 20-200 depending on the selected timeframe.
  
• Fibonacci hooks are controlled and validated using a modified supertrend indicator with ATR length and factor set automatically according to the selected timeframe, and that to avoid non-significant hooks (trend pivots).
  
• To update to a certain fibonacci level, certain conditions must be met to validate this level, these conditions check for RSI extreme conditions, supertrend conditions, trend stage (early stage or extended).
  
• Trend changing is controlled as well. In order for trend to change once price crosses the stop-bands, Tigermood trend takes into consideration: volatility, strong or weak trend status, early/mature stage of the trend, and finally the last fibonacci levels used. A bias towards a hard trend change is favored instead of soft trend change, which is a simple close crossing and that to avoid as many false trend changes as possible
  
• During extreme high momentum trending, the updating bias will shift to the moving average with ATR and supertrend limitation.
  

█ Tigermood Trend is designed to be as plug-and-play indicator with little or no parameters to set or keep tweaking thus enabling the trader to concentrate on his/her strategy entries and exits. (limited settings to control sensitivity and some behavior may be introduced in the future)

█ Tigermood Trend is a no-Repainting indicator. the trend updates only on the close of the current bar using barstate.isconfirmed.

█ However, it is important to emphasize that Tigermood Trend is NOT a signal generator. You don't see Buy and Sell signals on the chart. (as of this date). Even though upon trend changing you may think it is a buy/sell indication but it is NOT. This indicator is made for traders who need a trend to confirm the direction of their trades, and avoid confusion during high market volatility; and experienced traders know very well that trading with a reliable trend constitute an essential and an integral part of their trading strategy. This way the trader is spending more time on fine-tuning their trade opportunities.

█ Tigermood Trend is a Tool to be added to the traders' toolbox and is not a trading system by its own. (While in the future the indicator will highlight area of high opportunity for entries and stop losses)

█ Tigermood Trend is under continuous development. New features, logic updates and new logics will be regularly added in new versions.

Best of luck in your trading journey,
Tigermood

Информация о релизе:

🔶 This is a NEW upgraded version 3.0 of Tigermood Trend with improved and updated algorithms:

• In this version 3.0 the code has been reimplemented using libraries and UDT (user-defined-Types) and the new method of TradingView, and that in order to better manage the lengthy code especially when it spans across thousands of lines.
  
• Speed is slightly improved as more workload is shifted to libraries.
  
• Some algorithmic sections related to the core of the indicator has been revised /updated and improved and will continue to evolve in the future versions as seems fit.
  
• The sensitivity of Tigermood Trend is now more adaptable to the price volatility, price consolidation (sideways moves) and high momentum moves.
  
• Some auto parameters has been adjusted.
  
• Added option in the settings to manually select either Hi/Lo of the bar or the close of the bar for the calculation of the Fibonacci ratios and many other variables that calculate the stop bands. (Recommended to keep on Auto)
  
• When using UDT types in the new version, the option to change the colors in the style tab won’t be available. (a TradingView issue). So instead, now you can select or change the colors and line width in the input settings directly.
  
• Added a Recalculate check box which is dummy and does not change any settings that affect the trend. This is just a convenient way to force the indicator to recalculate in case the indicator does not plot due to calculation time out message. The reason this may happen sometimes is due to the lengthy code of the script, sometimes the trend does not plot and you may receive such message . Instead of removing the indicator and adding it again to the chart, just open the settings and check or uncheck the Recalculate check box. It may take few extra seconds to plot again.
  
• The algorithms behind the logic of trend changing and trend updating to the optimal fibonacci level and which are based on, but not limited to, the price action, momentum and volatility ,are continuously being updated to keep you in the most logical trend.
  
• Added few more screenshots.
  

🔶 Future Additions

• Alerts for trend changing will be added very soon in the next update.
  
• Focus of algorithms will be slightly shifted towards lower timeframes to allow day traders and scalpers more confidence and power tools to build and fine tune their trading strategies.
  
• Future version will have the option to show Buy/Sell signals and area of best entries on the chart. But these will be only indicative of area of potential entry opportunities and not recommendations to buy or sell. Traders will always be solely responsible for their decision to buy or sell.
  

🔶 BELOW YOU CAN FIND SOME SCREENSHOTS OF TIGERMOOD TREND 3.0 APPLIED ON DIFFERENT SYMBOLS & TIMEFRAMES.

█ PLEASE NOTE THAT TIGERMOOD TREND IS UNDER CONTINUOUS DEVELOPMENT AND UPDATING. CURRENT SCREENSHOTS MAY DEFER FROM FUTURE OR PREVIOUS VERSIONS.


GBPUSD

USDJPY

BITCOIN

ETHEREUM

DOLLAR INDEX:

TESLA:

AMAZON:

APPLE:

S&P 500 E-mini

Информация о релизе:

FIXED loading Error from Library.

In couple of days a new version will be published