Trend Prediction Meter [PointAlgo]

The Trend Prediction Meter & Levels is a composite market-bias and volatility visualization tool designed to summarize trend strength, momentum, price positioning, and volatility into a single normalized score.
It provides a structured framework to interpret directional bias and probable price expansion zones during active market conditions.

Concept Overview
Markets often reflect multiple conditions simultaneously—trend direction, momentum strength, price location within a range, and volatility.
This indicator combines these elements into a unified Bullish Score (0–100), displayed as a meter and supported by projected ATR-based levels.
Rather than focusing on a single signal, the script aims to present context about current market conditions.

Bullish Score Composition (0–100)
The meter represents a weighted blend of multiple market factors:

1. Trend Strength (EMA Structure)
Uses a fast and slow EMA to assess directional bias.
The distance between EMAs is normalized into a trend strength score.
Strong separation indicates directional conviction; compression suggests balance.

2. Momentum Strength (RSI Blend)
Combines a short-term and mid-term RSI.
Helps capture both immediate momentum and broader directional stability.
Higher readings indicate sustained bullish pressure, lower readings indicate bearish pressure.

3. Position Within Recent Range
Measures where price is trading relative to its recent high–low range.
Values near the top of the range reflect strength; values near the bottom reflect weakness.
Mid-range positioning indicates equilibrium.

4. Volume Participation
Compares current volume against its recent average.
Acts as a minor confidence modifier rather than a primary driver.
Each component is normalized and combined using fixed weights to produce a final Bullish Score between 0 and 100.

Bias Classification
The Bullish Score is translated into descriptive market states:

• Extreme Bullish
  
• Very Bullish
  
• Bullish
  
• Neutral
  
• Bearish
  
• Very Bearish
  

These labels describe current bias, not future certainty.


Meter Visualization

• The meter plot dynamically changes color based on the score range.
  
• A dashed midline at 50 represents balance.
  
• Background shading highlights strong bullish or bearish dominance zones.
  
• Crossovers of the 50-level indicate shifts in directional control.
  

ATR-Based Projection Levels:
To provide volatility context, the indicator calculates ATR-based upside and downside reference levels:

• Two potential expansion levels (TP1 and TP2) are projected above and below price.
  
• The distance of these levels adapts based on current bias strength.
  
• These levels are contextual reference zones, not fixed targets.
  

Prediction Dashboard
An optional side table summarizes key readings at the most recent bar:

• Symbol
  
• Current bias label
  
• Bullish Score
  
• Current price
  
• ATR value
  
• Upside and downside projection levels
  
• Directional comment (Upside favoured / Downside favoured / Balanced)
  

This dashboard is designed to provide a quick structural overview without requiring manual calculation.

Signals & Alerts
Built-in alerts are available for:

• Bullish bias conditions
  
• Bearish bias conditions
  
• Bullish Score crossing above 50
  
• Bullish Score crossing below 50
  

Alerts are informational and reflect internal state changes only.

Customization:

Users can adjust:

• RSI lengths
  
• EMA lengths
  
• Range lookback period
  
• ATR parameters
  
• Display options for the meter and dashboard
  

This allows adaptation across different instruments and timeframes.

Usage Notes

• Best suited for analytical interpretation rather than standalone decision-making.
  
• Designed to complement price action, structure, or other indicators.
  
• Works across multiple markets where volume and volatility data are available.
  

Disclaimer :
This indicator is intended for educational and analytical purposes only.
It does not provide investment, trading, or financial advice.
All signals and levels should be validated with independent analysis and appropriate risk management.