A Ten-Timeframe Indicator for Comparing Recent Price Direction

Summary

CandleTrend_x10 is a chart indicator that displays price direction across ten selectable timeframes, ranging from hourly intervals through monthly bars. It marks upward movement in green, downward movement in red, and no change in gray, presenting the readings as colored squares. The indicator uses the most recently closed bar for each timeframe, so its display reflects completed bars rather than ongoing price movement within an unfinished bar.

Its inputs let users choose the timeframes, colors, font, and display position. This makes the indicator a compact way to compare recent direction across horizons, potentially highlighting agreement or conflict between shorter and longer views. The document describes the display and configuration, but gives no rule for entering or exiting trades, no underlying calculation details beyond its use of last closed bars, and no backtest or performance evidence. It should therefore be read as a visual trend summary rather than a demonstrated predictive strategy.

Key ideas

• The indicator displays price direction across ten user-selected timeframes.
• It colors rising readings green, falling readings red, and unchanged readings gray.
• Readings use the last closed bar in each timeframe.
• The display can be customized with timeframe, color, font, and position settings.
• The document supplies no trading rules or evidence that the indicator predicts returns.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.