Dow Theory based Indicator for TradingView

small and big trend

Small and large trend

Both the minor and major trends are colored on the chart.

Each uptrend is drawn in green, downtrends in red and trendless phases in blue.

In each uptrend, the local highs and lows are numbered 1-2-3-2-3.

Dow theory buy signals

Dow Theory based Buy Signals

Before a buy signal according to the dow theory is available, it is displayed with all necessary data to create a (stop-buy) order if necessary, which is then executed with the signal.

Take Profit

Take Profit

For each active trade, the price for taking profit is displayed and plotted.

The profit taking can be configured flexibly. For example, it can be based on the last high of the major trend or set to a fixed percentage.

It is also possible to just let the StopLoss follow the price more closely when profit taking is reached and then let the profits run as long as possible.

StopLoss

Stop Loss

For each active trade, the dynamically calculated stop loss is displayed and plotted.

The stop loss can be configured flexibly. For example, it can be configured as a classic "trailing stop loss" that follows the price from below. Or it is tightened according to the dow theory when the small trend has marked a new local low.

Display of the trades

Display of the trades

All active and closed trades of the last 5 years are displayed in the chart with buy signal, sell, stop loss history, inside candles and short statistics.

Backtesting

Backtesting

The strategy can be simulated for each stock over the period of the last 5 years. Each individual trade is recorded and can be traced and analyzed in the chart including take profit and stop loss history.

Detailed evaluations and statistics are available to evaluate the performance of the strategy.

Notifications

Notifications (Alerts)

Get alerted before a new buy signal emerges to create an order if necessary and not miss a trade. You can also be notified when the stop loss needs to be adjusted.

The notification can be done in different ways, e.g. by mail, PopUp or App-Notification.

This saves them the annoying, time-consuming and error-prone "click through" all the charts.