The Better X-Trend Indicator [Free Code]

UPDATED: Monday 30 November 2020

Here’s how to use explosion and exhaustion volume to determine the trend.

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.

 

Trend Indicator for TradeStation, NinjaTrader & MultiCharts

The free Better X-Trend indicator is now available for TradeStation, NinjaTrader and MultiCharts:

  1. Download the Better X-Trend Indicator code using the buttons below.
  2. Unzip the download file and read the installation PDF. If you are using NinjaTrader and get an “Import failed. File likely corrupt” error message, then you have not unzipped the file!
  3. To use the indicator input the password: “eminiwatch”.

Hope you find this new way at looking at trends interesting and useful in your trading.

FREE CODE FOR
TRADESTATION »
    FREE CODE FOR
NINJATRADER 7&8 »
    FREE CODE FOR
MULTICHARTS »

Click this link for more free indicator code.

 

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