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THADI: Market Trend Strength and Direction Insights-Settings

Custom Indicators

Settings for the Indicator

General Settings

  1. Indicator Name: THADI: Market Trend Strength and Direction Insights
    • Description: This indicator measures the overall strength of the market trend and identifies periods of positive (bullish) and negative (bearish) market direction.

Input Parameters

  1. Length (len):

    • Default: 14
    • Description: Determines the number of periods used to calculate the trend strength. A longer length will smooth the results, while a shorter length will make the indicator more responsive.

  2. Threshold Level (th):

    • Default: 20
    • Description: Sets the level above which the trend strength is considered significant. Higher values can indicate stronger trends.

  3. Upper Trend Strength Threshold (TrendStrengthValueRangeupper):

    • Default: 25
    • Description: Specifies the upper threshold for trend strength to identify strong trends.

  4. Lower Trend Strength Threshold (TrendStrengthValueRangeLower):

    • Default: 20
    • Description: Specifies the lower threshold for trend strength to identify weak trends.

Visual Settings

  1. Color Settings:

    • Positive Trend Direction:

      • Default Color: Green
      • Description: The color of the line indicating positive directional movement.

    • Negative Trend Direction:

      • Default Color: Red
      • Description: The color of the line indicating negative directional movement.

    • Trend Strength:

      • Default Color: Navy
      • Description: The color of the line indicating the overall trend strength.

    • Threshold Line:

      • Default Color: Black
      • Description: The color of the horizontal line representing the threshold level.

    • Strong Trend Label:

      • Default Color: Blue
      • Description: The color of the label indicating a strong trend.

    • Weak Trend Label:

      • Default Color: Orange
      • Description: The color of the label indicating a weak trend.

Label Settings

  1. Trend Direction Labels:

    • Uptrend Label: Displays when Positive Trend Direction is greater than Negative Trend Direction.

      • Default Text: "Uptrend"
      • Color: Green
      • Text Color: White
      • Size: Small

    • Downtrend Label: Displays when Negative Trend Direction is greater than Positive Trend Direction.

      • Default Text: "Downtrend"
      • Color: Red
      • Text Color: White
      • Size: Small

  2. Trend Strength Labels:

    • Strong Trend Label: Displays when Trend Strength is above the upper threshold.

      • Default Text: "Strong"
      • Color: Blue
      • Text Color: White
      • Size: Tiny

    • Weak Trend Label: Displays when Trend Strength is below the lower threshold.

      • Default Text: "Weak"
      • Color: Orange
      • Text Color: White
      • Size: Tiny

Plot Settings

  1. Positive Trend Direction:

    • Color: Green
    • Description: Plots the positive directional movement.

  2. Negative Trend Direction:

    • Color: Red
    • Description: Plots the negative directional movement.

  3. Trend Strength:

    • Color: Navy
    • Description: Plots the overall trend strength.

  4. Threshold Line:

    • Color: Black
    • Description: Plots a horizontal line at the specified threshold level to help identify significant trend strength.

Alerts

  1. Trend Direction Alerts:

    • Uptrend Alert: Alerts when Positive Trend Direction is greater than Negative Trend Direction.
    • Downtrend Alert: Alerts when Negative Trend Direction is greater than Positive Trend Direction.

  2. Trend Strength Alerts:

    • Strong Trend Alert: Alerts when Trend Strength is above the upper threshold.
    • Weak Trend Alert: Alerts when Trend Strength is below the lower threshold.

These settings allow users to customize the indicator to their preferences, making it a flexible tool for analyzing market trends and strength.

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