Introducing the Power Bars (10x Bars PRO) Indicator: A powerful, trend-focused trading tool inspired by Simpler Trading's renowned 10x Bars. This dynamic indicator delivers valuable insights to help you identify and capitalize on market trends with increased confidence and ease. Get ready to elevate your trading strategy and enhance your decision-making process with this must-have indicator.
––––HISTORY & CREDITS 🏦
The Power Bars (10x Bars PRO) indicator takes inspiration from the 10x Bars developed by John Carter from Simpler Trading. Designed to be an exact match of the original 10x Bars, this indicator delivers the same level of efficiency and functionality as its groundbreaking predecessor.
––––WHAT IT DOES 💡
The Power Bars (10x Bars) indicator aids traders in monitoring trend quality and strength by integrating the calculations of the ADX and DMI indicators. It displays bars in three distinct colors—green, yellow, or red—based on the underlying trend direction and conviction. The indicator determines if the ADX is positive and above specific thresholds to conclude a bullish momentum. Additionally, it incorporates above-average volume data to increase the probability of success.
🟩 Green bars: Signify conviction and upward trend.
🟥 Red bars: Signify conviction and downward trend.
🟨 Yellow bars: Indicate the absence of a strong directional conviction.
🔵 Bars with a dot represent above-average volume (the threshold is adjustable in settings, with a default value of +50%) on the given time frame, signifying a stronger conviction in the move.
––––HOW TO USE IT 🔧
The Power Bars (10x Bars) indicator simplifies the decision-making process by presenting the information from the underlying ADX and DMI calculations directly on your charts. To use the indicator effectively:
1️⃣ Trade in the direction of the 10x Bars to boost the probability of success. Green bars indicate bullish trends, while red bars signal bearish trends.
2️⃣ For yellow bars, consider avoiding directional setups or trade them non-directionally until a directional conviction is established.
3️⃣ Combine the 10x Bars with volume data to reinforce the signal, as John Carter highlights the significance of momentum and volume in successful trading.
By incorporating the Power Bars (10x Bars) indicator into your trading toolkit, you can swiftly understand trend quality and strength and make well-informed trading decisions. This indicator complements other trading tools, such as the squeeze v2 pro, offering invaluable insights into trend direction and conviction.
After you have purchased the indicator have to send us your TradingView username in order to get access.
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After payment is made, access to the script will be given within 2 hours
Link to TradingView script