Multi-Timeframe Trend Analysis was created through a collaborative effort with David Ryan, three-time winner of the U.S. Investing Championship. In addition to working with William O'Neil, founder of Investor's Business Daily, David managed the New USA Growth Fund at William O’Neil + Company.
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Identifying Trends and Box Types
It's easy to get caught up with the noise of tracking price movement, bar by bar. This is even more relevant on lower timeframes. When performing trend analysis, it can be very helpful to step back and look at the bigger picture.
To help facilitate visualizing trends, with this indicator you can view higher timeframe data without changing to a new chart:
■ View the weekly trend from a daily chart.
■ View the monthly trend from a weekly chart.
■ View the quarterly trend from a monthly chart.
The weekly chart of GOOGL is shown below. Each box encapsulates one month of trading activity. You can also see the four types of boxes that may be shown: up, down, inside and outside.
Up Box - When a box highest high is above the previous box high, it is considered an up box. The percent change shows the increase from the previous box highest high to the highest high of the current box.
Down Box - When a box lowest low is below the previous box lowest low, it is considered a down box. The percent change shows the decrease from the previous box lowest low to the lowest low of the current box.
Inside Box - When a box highest high is below the previous box highest high, and the box lowest low is greater than the previous box lowest low, it is considered an inside box. Two percent changes are shown. One indicating the decrease from previous box highest high to the highest high of the current box. The other indicating the increase from the previous box lowest low to the lowest low of the current box.
Outside Box - When a box highest high is above the previous box highest high, and the box lowest low is below the previous box lowest low, it is considered an outside box. Two percent changes are shown. One indicating the increase from previous box highest high to the highest high of the current box. The other indicating the decrease from the previous box lowest low to the lowest low of the current box.
Special Note for Outside Boxes: As far as outside boxes and whether they are continuing or changing the trend, it depends on the action of the most recent high or low. The box is considered to be an up box if the highest high is more recent than the lowest low, and vice versa.
How to Use the Indicator
The goal of this indicator is to help spot changes in the trend. Historical price data has shown that movements up/down often occur in sets of three. By looking for boxes encapsulating high timeframe moves, we can see when a trend may be changing as shown below.
Three Higher Highs
If price movement is sideways or down, when there are three higher highs, this may be the start of an uptrend.
Three Lower Lows
As with three higher highs, three lower lows may also signal a change in the trend. See the charts at the top for more examples.
Percent Change Information
Each box has an optional percent (%) change value. Refer to the image and description below for more information.
■ View price action trend of higher timeframes without changing timeframe.
■ View percent gain/loss from one box to another.
■ Customize box border colors.
■ Customize box background colors.
■ Show/hide percent change values.
Subscribe and Pay Same Price For Life
Once you subscribe on either a monthly or yearly subscription, even if the cost of the indicator goes up, your price will remain the same as long as you maintain your subscription. If you cancel and re-subscribe, you'll pay the published price at the time of your new subscription.
Canceling Your Subscription
If you cancel a monthly or yearly subscription, your invite-only access to the indicator will be removed and the indicator will no longer be available for viewing on TradingView charts.
Installing the TradingView Indicator
This indicator is only available for TradingView. You must have an active account with a valid username to install and use this indicator.
Once you've completed payment, you will be given access to the indicator via the invite-only feature of TradingView.
Given there is currently no automated means to add invite-only access, it may take up to 12 hours to manually add your username to the invite-only list.
All the details on how to install the invite-only indicator will be sent via email.
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This indicator is for informational and educational purposes only. Do your own research before making any trade decisions. We accept no liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on this indicator.