MEET THE INDICATOR
The meaning behind the numbers.
SW Trend Factor V2 plots price reference levels from a manually selected low or high using the Trend Factor approach. It is a tool for planning how you will observe price, rather than an automatic signal finder. You choose the starting section, and the indicator shows the sequence of levels and the base of the first one.
- Select and move the anchor point with your mouse
- Up to six upward or downward levels
- Standard and small calculation scales
- Segment offsets and three color presets
Select the point to calculate from
When adding the indicator, TradingView asks you to select a point with your mouse. In automatic mode, clicking closer to the low produces upward levels; clicking closer to the high produces downward levels. You can set the direction explicitly. By default, the actual high or low of the selected bar is used; a separate mode lets you calculate from the marker's exact price.
You can move the point, after which the levels are recalculated. By default, the anchor bar must be closed: if you select a bar that is still open, the indicator waits for it to close. The user chooses a suitable starting extreme; this version does not automatically find a preceding opposite extreme or check the full movement context on the user's behalf.
The first level may use a different base
In upward mode, the first level is calculated from the low if the selected bar's close is no higher than the previous close; otherwise, the selected bar's close becomes the base. In downward mode, the first level is calculated from the high if the close is no lower than the previous close; otherwise, the close is also used. The anchor label shows which base was applied.
Subsequent levels use the selected extreme. The first reference level is therefore not always evenly aligned with the others. You can disable the first-level base rule, but that becomes your separate custom setting. A change in appearance should not be understood as a change in the calculation base.
Two scales and up to six price reference levels
The standard upward scale adds 5.56% of the base for each level number, giving the multiplier 1 + 0.0556 × n for level n. Downward levels use successive multiplication by 0.9444, giving the multiplier 0.9444^n for level n. These are different calculations: upward levels do not use successive compounding. For small quoted prices, a scale using 0.556% and 0.99444 is available.
You can display from one to six levels. A label shows the number, multiplier and price, or a more compact version. The levels help you map out what to watch: where to check for a reaction and where to assess continuation. The indicator does not guarantee that every level will be reached and does not provide a standalone entry instruction.
Adjust the markings while preserving their meaning
Lines can extend to the right or remain as fixed segments. Version V2 provides a common segment offset of up to 300 bars to the right or left, while level and anchor labels can be adjusted separately horizontally and vertically. These offsets change the position on screen while preserving the prices of the levels.
There are three color presets: the current customizable colors, classic, and a black-and-white scheme that accounts for the chart background. You can change line thickness, style and length, as well as label size and content. To get started, keep the standard scale, a closed anchor bar and a few levels, then add the details that support your own analysis.
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.
The STUDENT WYCKOFF implementation is inspired by Tom DeMark's published work. Historical profile names identify the basis of the rules. This is an independently developed product.
