This is a indicator for trend analysis. The smaller trend (the current time frame) is indicated by color blue and red. The color blue indicate uptrend and color red indicate downtrend. But don't take trade blindly. confirm with the higher time frame trend line
, indicated by the color green and pink. green means uptrend and pink means downtrend. if the higher trend is in uptrend, focus only on uptrend part of smaller trend line
and ignore the downtrend part. Going with the larger trend increases your success by large extent.
This indicator applies to all stocks, indexes, Forex, commodities
In this image you can see BataIndia
, the higher time frame shows downtrend, indicated by pink line. So in the smaller time frame, only the downtrend part should be considered for trading, indicated by red lines.
Hope you like this indicator.. enjoy!