Additional display settings
A look at some of the other settings that influence how the indicator is displayed.
Shows/hides the EMA line that shows the longer-term trend. This is one of the parts that are used to calculate the green and red signal candles. It is disabled by default.
The long term EMA displayed on the chart.
Shows/hides the cloud on the indicator. This is one of the parts that are used to calculate the green and red signal candles. It is enabled by default.
The same chart, but with the TrendMaster cloud hidden.
Adds an additional special candle color (default: blue) to indicate where the trend might be slowing down a bit. This is shown when a candle closes into the cloud from above or below.
A blue candle is drawn, indicating a potential reversal.
This option shows an additional ribbon giving stop entry suggestions based on ATR. If a signal candle is shown, the value of the ATR ribbon can be used as your entry position. The ribbon offers a small buffer from the top/bottom of the candle wick, which can reduce the likelihood of false entries.
The ATR Entry Ribbon can be used to get a more secure entry.
This influences the sensitivity of the ATR ribbon. Changing this changes how the ATR indicator is calculated, allowing for a tighter or wider ribbon. Only change this if you know what you're doing. The default value for this is 0.15.
This is the period used in the calculation of the Williams Fractals in the indicator. Changing this changes how the Williams Fractals indicator is calculated. Only change this if you know what you're doing. The default value for this is 2, meaning it will take at least two candles to the left and right of the fractal candle for a valid fractal to be formed.
For this setting to have an effect, you will also need to enable the Adaptive fractal style in the Fractal style setting. You will be informed of this through an information bubble on the chart as well.
This setting enables the vizualisation of stop-loss levels for users that prefer to use the Williams Fractals stop loss method. A green horizontal line is created from the moment a bullish Fractal is formed. This line runs until either a new bullish line is formed or price dips below the line, meaning you would be stopped out at that point. They are drawn on each Fractal because everyone might have a different entry, so we consider all of them relevant. For shorts it works the exact same way, except the horizontal lines will be red.
Fractal-based Stop Suggestions show you where to place your stop loss.
Out of the box, the Williams Fractals are always shown. The fractals, however, support three styles in total:
- None
- All
- Adaptive
Since fractals are used in TrendMaster for placing a stop loss not all fractals need to be on the chart at all times. In an uptrend, we can disable the fractals on top of the candle and the opposite is true for a downtrend. Enabling Adaptive gets rid of these "unused" fractals, only drawing the ones relevant to the current trend. The default value for this setting is All.
Adaptive Fractals means only the Fractals matching trend are shown.
Filter out signal candles above %
This setting allows you to set a ceiling when it comes to signal candle size. By filtering out large signals above a certain threshold (which have a much lower probability of panning out) you clear out some of the noise on the chart.
Last modified 2yr ago