Higher-Timeframe Trend Signals with Smoothed XRSX
Summary
This indicator presents the direction and status of a trend calculated by a separate METRO_XRSX_Sign indicator on a selected timeframe. It marks continued trends with a colored steering-wheel symbol and trend changes with a directional arrow, using color and orientation to indicate the trade direction. It can also issue alerts or sounds when an entry signal occurs.
The document describes configurable smoothing methods, periods, price input, step sizes, signal bar, display options, and alert settings. It explains how to distinguish continuation from a change signal and notes that multiple instances on one chart need distinct label names. The material is a usage and parameter overview, not a performance study: it gives no entry rules beyond the displayed signals, exit method, backtest, or evidence that the signals are profitable. The selected higher timeframe and smoothing settings shape the displayed signal, but their effects are not evaluated.
Key ideas
- The indicator displays trend direction from a separately configured XRSX signal calculation.
- A colored steering-wheel marker denotes continuation, while an arrow denotes a trend change and trade direction.
- Users can set the calculation timeframe, smoothing methods, periods, price source, and step sizes.
- Display placement, signal bar selection, and alert behavior are configurable.
- The document provides no performance evidence or complete trading system.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.