Indicator basics: ‘Trend Tracker’

Disclaimer: any information on this website or published elsewhere by Trading Temple is provided for informational and educational purposes only. The Information should not be considered as investment and/or trading advice and is not meant to be an invitation or recommendation to buy, sell, or hold any of the mentioned assets.

This blog is written to illustrate the power and possibilities of Trading Temple’s ‘Trend Tracker’. In this blog post I will show a few charts including the indicator and discuss the options it gives you as a trader to improve your trading.

In this ‘Indicator basics’ blog I will discuss how to add the ‘Trend Tracker’ to your TradingView charts, give an example on how it works and what it shows, and will give an example on how you could use it for your own trades.

If you want to know about more advanced techniques you can pull off with the ‘Trend Tracker’, head over to our ‘Indicator advanced: ‘Trend Tracker‘ blog post.

#1: Adding the indicator to your TradingView charts
Once you have gained access to our indicator on your personal TradingView account, it is time to add it to your own charts! Open up a chart in TradingView and click the ‘Indicators & Strategies’ button in the top bar.

‘Indicators & Strategies button in TradingView

Once you have clicked this button a menu will appear. In this menu pick ‘Invite-Only Scripts’ as your option on the list. In here you will find the ‘Trading Temple Trend Tracker LONG v3’. Clicking this will add it directly to the chart you were looking at.

You can find the indicator under ‘Invite-Only Scripts’.

If you can not see the indicator in this list, please contact us so we can correctly give you the access to the indicator. The indicator is built to use with Heikin Ashi candles instead of regular candlesticks. Want to know how to gain access to our indicator? Come join our Discord!

#2: Trend identification
In a single glance, the indicator gives you the possibility to see in which way the trend is moving. Using the indicator on a 3D timeframe, it clearly shows us that the price is in an uptrend after a ‘buy’ signal and in a downtrend after a ‘sell’ signal. Personally, I use this to decide if I want to ‘buy the dip’ when price is trending up, or ‘sell the rallies’ when price is trending down.

Trading Temple’s ‘Trend Tracker’ on the BTC/EUR 3D chart

A more advanced function is to use this indicator on BTC price to determine what you currently do with your alt positions. Taking the current correlation into account between BTC and other coins, you may choose to get out of altcoin positions in either BTC (when BTC is trending up) or fiat/stablecoins (when BTC is trending down)

#3: Trading on signals
Using the indicator as both an entry and exit signal belongs to one of the stronger options the indicator gives you. You can either set your own alerts in TradingView or use the signals given in different channels of our Discord server. Because of it’s strength on higher timeframes, the indicator helps you to improve your odds of making a profitable trade with minimum effort.

As a trader, you try to find the right tools in your toolbox to make decisions in the market. At Trading Temple, we are convinced that the ‘Trend Tracker 101’ is a tool you really want to have in your arsenal. Adding in, for example, RSI, support/resistance, Elliott Waves, etc. makes the indicator fit in to your personal trading style and strategy and enhance the way you work.

Summary
Using Trading Temple’s ‘Trend Tracker’ indicator adds a powerful and versatile tool to your toolbox as a trader. Whether you use it to check the trend in a glance, use it as an entry and exit signal or combine it with different indicators, it’s all up to you and it all belongs to the possibilities you will have with Trading Temple’s ‘Trend Tracker’.

Interested in adding this indicator to your TradingView? Or want to know more before you decide? Join our Discord channel right here and contact us for information or a free 14-day trial!

If you want to know more advanced ways to use the indicator, check out the advanced blog right over here. This is highly recommended when you are using the indicator, especially the part on the indicator mindset.