Trend Meter [SigmaSeven]

Trend Meter [SigmaSeven]

WHAT IT DOES

Trend Meter condenses the trend state of nine timeframes (1m, 5m, 15m, 30m, 1H, 4H, 12H, 1D, 1W) into one dashboard. Each timeframe is classified as Risk-On or Risk-Off by the same rule, the results are aggregated into a 0-9 alignment score, and the score is translated into a verdict (Strong Risk On / Risk On / Neutral / Risk Off / Strong Risk Off). On the chart itself, the two EMAs of the current timeframe are plotted with a trend-colored ribbon so the local trend is visible alongside the multi-timeframe context.

HOW IT WORKS

1. Per-timeframe rule: On each of the nine timeframes the script computes a fast EMA (default 12) and a slow EMA (default 21) via request.security. Fast above slow = Risk-On for that timeframe, otherwise Risk-Off. One deliberate, simple rule is used everywhere so the aggregation compares like with like; the value of the tool is in the aggregation, not in the individual signal.

2. Alignment score: The number of Risk-On timeframes (0-9) is the core output. 8+ aligned = Strong regime, 6-7 = regime, 4-5 = Neutral/mixed. The score answers the question a single-timeframe trend indicator cannot: does the trend I see on my chart agree with the structure above and below it, or am I trading a counter-trend move inside a larger regime?

3. Dashboard: The matrix shows each timeframe, its direction arrow and state, highlights the column of the chart's current timeframe, and displays the score and verdict. A Lite mode reduces the table to two rows for small screens.

4. Alerts: alertcondition events fire when the score crosses into majority (5+/9) or strong (8+/9) territory in either direction, plus a JSON-formatted alert() for webhook automation (replace the placeholder key field with your own identifier if routing to an external service).

HOW TO USE IT

Typical use is confluence filtering: take longs only while the majority of timeframes are Risk-On, reduce size or stand aside in Neutral, and treat Strong readings as established regimes rather than entry signals. The highlighted current-timeframe column shows immediately whether your working timeframe agrees with or fights the broader stack. This is a context tool, not a trading system; it issues no entries or exits.

SETTINGS

- Fast / Slow EMA: lengths of the per-timeframe trend rule (defaults 12/21)
- Table Position and Table Type (Full matrix or Lite two-row version)
- Color Mode: 8 preset palettes or custom colors

LIMITATIONS AND TRANSPARENCY NOTES

- All request.security calls use lookahead_off; no future data is accessed. However, the value of any timeframe whose current bar has not yet closed (e.g. the running weekly bar) can change until that bar closes. The score is therefore live and can fluctuate intraday. For stable readings, judge the score at the close of the timeframes you rely on.
- Timeframes below the chart timeframe are evaluated on their most recent available bar. Their historical states on higher-timeframe charts are approximations; the dashboard is designed to describe the current moment, not to backtest lower-timeframe history.
- EMA crossovers are lagging trend descriptions. A 9/9 score often appears well after a trend is underway, and score deterioration lags tops and bottoms.
- The nine timeframes and 12/21 defaults are conventions, not optimized values.