Trend Indicator: The Better X-Trend Indicator (19:54)
Trend indicators are the holy grail of the indicator world – everyone thinks “If only I had a better trend indicator then making money in the market would be easy.”
But trend is illusive – it’s obvious in retrospect, looking back on a historic chart. But when you’re in the thick of the market moving and have capital committed, then it’s a different story altogether.
Most trend indicators are based on price – moving averages, trend lines, fibonacci levels, trailing stops, etc. – and ignore volume completely. Well, maybe there’s a way to combine price with volume – and that’s where the Better X-Trend indicator comes in.
Trends start with an explosion of volume – in the case of an uptrend, an explosion of buying volume when everyone realises the trend has changed and they need to get on board or reverse their positions.
Then the trend keeps going until you get final exhaustion volume – in the case of the uptrend, the capitulation volume where all the buyers have finally been suckered into the rally. By this time, the Professionals have taken profits – using this final exhaustion volume to swap positions with the late-to-the-game Amateurs.
The Better X-Trend indicator tries to capture these explosion and exhaustion volume patterns – hence the “X” in X-Trend – to define the trend.
A Trend Indicator for TradeStation, NinjaTrader and MultiCharts
The free Better X-Trend indicator is now available for TradeStation, NinjaTrader and MultiCharts:
- PASSWORD: “eminiwatch”
- Click to download the Better X-Trend Indicator for TradeStation
Click to download the Better X-Trend Indicator for NinjaTrader
Click to download the Better X-Trend Indicator for MultiCharts - UNZIP and read the installation PDF. No support is offered for this free indicator.
Hope you find this new way at looking at trends interesting and useful in your trading.
