MYTRENDY is an indicator whose function is to carry out a technical analysis and thus find the trend.

After several months of studies, we reached the conclusion and confirmation of what we thought. “It is not necessary to find a high efficiency in the search for the trend but to find the strong trends from the beginning.

For this reason, we decided to sacrifice the winrate in exchange for a higher risk / reward in our favor.

What is risk / reward?

The best way to explain it is with an example:

Imagine you want to risk $100 on a trade, we call this risk, now if your stop is 1 dollar from your entry, this means that you would buy 100 shares, because 100 shares with 1 dollar of risk would be your 100 USD of loss that you decided to lose.

Now for every dollar that the stock moves in your favor, you will also earn 100 USD, that is, 1 time your risk, if the stock moved 2 dollars in your favor, then you are earning 200 USD, which would be twice your risk and so on.

So if you have a 50% winrate with a 4 to 1 RR (risk / reward), this means that on average you win 4 times your risk and win 50% of the trades you make.

Now you realize? If on average you win 4 times your risk, this means that a win covers 4 losses, and if you have a 50% chance of winning then your wins are greater than your losses.

It is for this reason that we decided to sacrifice the winrate in exchange for a better RR(risk / reward ).

But it is worth clarifying that the idea of showing these statistics is only to demonstrate that the trend analysis is correct.

MYTRENDY is not at all an indicator that suggests trades, that is why we do not put more details of entries or exits since how to use it and study it depends exclusively on the subscriber.

DESCRIPTION

MYTRENDY has two inputs:

Length : What is the analysis of how many bars back do you want the indicator to analyze to determine trends, we recommend 50 or 200 but this is the nice part, each user can play with the parameters to find the best R/R of the analyzed ticker .

Factor: This is when the user wants the trail stop to be close to the action, in short, how much space do you want to give the action to determine the trend change?

We recommend a factor of 10, but each user can play with these parameters to suit their style.

TO SEE VIDEOS OF OUR INDICATOR IN ACTION PLEASE FOLLOW US ON OUR YOUTUBE ACCOUNT, CLICK HERE

MYTRENDY also comes with statistics where:

TRADES: is the number of trades analyzed in the past:

WINRATE: the % of trades winning (if the trade made 1R then the trade is counted as won)

Avg WIN Rs: the average of how many Rs is made per won trade .

Avg LOSS Rs: the average of how many Rs is lost per lost trade . It is worth emphasizing that you should never lose more than 1R since the stop is determined from the beginning of the trade.

AVG R/R: Once we determine how many Rs are won and lost on average, we determine the average Risk / reward as well.

SINCE: Since the indicator analyzes all the past, we review from what date tradingview allows us to see back. For tradingview premium accounts load 20,000 bars but pro and pro+ accounts 10,000

If you have any questions no matter how simple, please Leave us your question in our forum. In order to share our answers with all the traders and to be able to help each other.

MYTRENDY WORKS WITH STOCKS, FUTURES, FOREX, ETFs and CRYPTOS
Recommended timeframe: 1-5 MIN

MYTRENDY must not be used under any circumstances as buy or sell signals.

MYTRENDY should only be used as an educational tool and to support user analysis.

Examples

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