MEET THE INDICATOR
The meaning behind the numbers.
Student Wyckoff Trend combines an assessment of price direction with a separate assessment of its current momentum. Bar colors show the trend state, while the lower pane helps you follow strengthening, weakening and pauses in the move. The table of other timeframes adds context: whether the current chart's direction agrees with already closed bars from higher timeframes.
- Five trend states and two color themes
- Continuation circles, reaction arrows and Up / Dwn
- Oscillator from −6 to +6 and compression markers
- Current timeframe, three higher timeframes and alert conditions
Five colors instead of a single answer
The trend score combines four conditions: price relative to its 50-bar average; price relative to SAR, a calculated reference for movement; a positive state of the MACD lines; and positive smoothed price change. Each condition that is met adds one point. The result from 0 to 4 becomes five color states.
On a dark background, a strong decline is dark purple, a weak decline pink-purple, uncertainty orange, a weak rise light turquoise, and a strong rise light blue. A separate contrasting palette is available for a light background, and the colors can be changed. The palette changes the bar colors; the chart background is selected in TradingView itself.
What circles, arrows and Up / Dwn mean
A circle marks the oscillator crossing the zero region in the direction of the current trend: green for a rise and red for a decline. It marks possible continuation of the direction already being observed. Up and Dwn labels appear when the trend score transitions into a rising or falling state.
Arrows refer to a different event: the oscillator leaving its extreme regions. A red arrow draws attention to a possible downward correction, and a green arrow to a possible upward bounce. The code does not add a separate requirement for these arrows to match the trend color. A continuation circle and a reaction arrow can therefore describe different aspects of the same move.
The lower pane: strength, extreme regions and pauses
The oscillator, a line in a separate pane below price, sums six comparisons and ranges from −6 to +6. It uses the position of price and measures of its strength relative to specified boundaries. Colored zones help distinguish the central region from more extreme values without turning every fluctuation of the line into a standalone trading signal.
Consecutive zero readings produce compression lines: the first appears after two zeros, and all six appear after seven. This displays the duration of the zero state, not a promise of an imminent breakout. The line's own color can reflect a comparison of average volume over 5 and 30 bars; volume changes its color, not the oscillator value.
The current chart and three higher timeframes
The table shows four rows: the current timeframe and three selected higher timeframes. Rows can display trend color and state, Up / Dwn, a circle, a reaction arrow and the oscillator value. Higher timeframes use closed bars; a new row reading becomes known at the start of the next period of that timeframe.
You can select one, two or three higher timeframes for confirmation. Weak and strong states in the same direction qualify; a neutral state does not confirm that direction. The selected intervals must be higher than the current one and, when filtering with several, must be in ascending order. The table explains unsuitable selections or insufficient history. A marker in a row refers to the closed bar shown for its own timeframe, not to a new event on every bar of the current chart.
Clear confirmation boundaries and settings
By default, bar coloring and the oscillator line are shown only on closed bars. This setting can be changed, but circles, arrows, Up / Dwn and alert events in the current version always require the corresponding current-timeframe bar to close. Trend scores are hidden for the first 50 available bars to allow all their components to form.
An alert with higher-timeframe confirmation requires a new Up or Dwn on the current chart and aligned directions in the selected higher timeframes at that moment. A later higher-timeframe confirmation does not repeat an old marker on the current chart. Notifications are created separately in TradingView; hiding the table or markers does not disable enabled alert conditions. Start with the basic bar coloring and one higher timeframe, then enable the details you need.
What you receive
Access to the indicator in your TradingView account for your chosen subscription period, calculation and display settings, and email support. Source code is not included in the subscription. You need your own TradingView account; any TradingView features or paid plan required for your chosen way of working are paid for separately.
This is an independent STUDENT WYCKOFF implementation. The description applies to the supplied indicator version; matching results with other products or quote providers are not promised.
