ElfieDT - Trend Friend

ElfieDT – Trend Friend

ElfieDT – Trend Friend is a simple visual tool that helps you focus on strong impulsive moves in the direction of the prevailing trend.

The script looks for larger-than-usual candles that:

Close clearly in one direction (bullish or bearish),

Align with both a shorter-term trend filter and a longer-term trend filter, and

Form close to a dynamic “value area” zone around price (based on current market volatility).

When all internal conditions are met on a closed bar, the indicator marks the candle and can optionally color it.

What the signals mean

🔵 Blue bars (Long Signal)

Price is moving in an established bullish direction.

The candle shows strong upward expansion compared with recent price action.

The move occurs near a dynamic support/value area (not after an extended chase).

🟠 Orange bars (Short Signal)

Price is moving in an established bearish direction.

The candle shows strong downward expansion compared with recent price action.

The move occurs near a dynamic resistance/value area (not after a late sell-off).

The indicator only evaluates closed candles. No signals are generated intrabar.

How traders might use it

Important: This is not financial advice and not a complete trading system. Use it together with your own analysis, risk management, and confirmation tools.

Some common ways to use the signals:

Trend-following entries

Use blue bars as potential continuation entry points in an uptrend.

Use orange bars as potential continuation entry points in a downtrend.

Confirm with your own tools (market structure, support/resistance, higher timeframes, etc.).

Focus filter / noise filter

Ignore all normal bars and only pay special attention when a Trend Friend signal appears.

This can help you avoid over-trading and only act when the market shows clear intent and momentum.

Multi-timeframe context

On higher timeframes, signals can highlight key impulsive candles.

On lower timeframes, they can be used to fine-tune entries within a bigger trend.

Inputs & customization

The script offers several controls to adapt it to your style:

Bar coloring toggle – turn signal bar-coloring on or off if you prefer to keep your existing chart colors.

All trend and volatility filters use internal, fixed settings chosen by the author and are not user-exposed.

Alerts

Two alert conditions are provided for automation or notifications:

“Long Signal” – triggers when a valid bullish expansion bar is detected.

“Short Signal” – triggers when a valid bearish expansion bar is detected.

You can attach these alerts to the script on any symbol or timeframe supported by TradingView and integrate them into your own trading workflow.

Disclaimer

This indicator is for educational and informational purposes only.
It does not guarantee profits, prevent losses, or replace your own analysis.
Always test any approach on demo or with small risk and follow your local regulations and broker rules.