Trend and Reversal Scanner

Hello Traders!

The TRN Trend and Reversal Scanner highlights in a user-friendly and easy to read table trend and reversal signals from up to 20 assets of your choosing. With it, you can efficiently monitor your preferred instruments simultaneously without jumping from one chart to the next. You will never miss a signal again. The indicator automatically finds swing-based up and down trends, bullish and bearish divergences, detects ranges and range breakouts as well as trend and reversal signals by the built-in trend detection algorithm called TRN Bars. Furthermore, you can conveniently stay updated with real-time alerts, notifying you whenever the scanner finds interesting market situations.

Feature List

1. Swing-based up and down trend detection
   
2. Divergence detection for any given (Custom) Indicator
   
3. Price range and breakout detection
   
4. Bar trend and reversal detection
   
5. Scanner alerts
   

The value of this indicator is to support traders to easily identify trend-based signals in an automated way and across many different markets at the same time. The trader saves a lot of time scanning the markets for up and down swings, divergences, consolidations and bar pattern-based trends and reversals, since finding and alerting these signals is done automatically for the trader.

For a visualization of the detected signals, you can add the TRN Bars and the Swing Suite indicator to your chart.

How does Trend Scanner work?

On the right side of the chart, you can find a table displaying the symbols monitored by the TRN Trend and Reversal Scanner for signal detection (first column). The table provides information on the status of each symbol. This visual representation allows you to quickly identify evolving signals across different symbols, helping you stay informed and make timely trading decisions.

The scanner operates specifically on the timeframe you are currently viewing, ensuring that the detected signals align precisely with your trading perspective.


In the following, we will describe the different signals displayed in the different columns of the table

1. Column 1 – Symbols
   
2. Column 2 – Bar Trend & Signals
   
3. Column 3 – Up & Down Swing Trend
   
4. Column 4 – Ranges & Range Breakouts
   
5. Column 5 – Bullish Divergences
   
6. Column 6 – Bearish Divergences
   

Bar Trend & Signals

In the second column, you can observe the status of TRN Bars, the built-in trend detection algorithm.

• UP – Uptrend
  
• DN – Downtrend
  
• REV (Green) – Bullish Reversal Bar
  
• REV (Red) – Bearish Reversal Bar
  
• CON (Green) – Bullish Continuation Bar
  
• CON (Red) – Bearish Continuation Bar
  
• B/O (Green) – Bullish Range Breakout Bar
  
• B/O (Red) – Bearish Range Breakout Bar
  

TRN Bars is designed to spot bullish and bearish trends and reversals. The trend analysis is based on a new algorithm that weights several different inputs:

• classical and advanced bar patterns and their statistical frequency
  
• probability distributions of price expansions after certain bar patterns
  
• bar information such as wick length in %, overlapping of the previous bar in % and many more
  
• historical trend and consolidation analysis
  

It provides high-probability trend continuation analysis and reversal detections.

Up and Downtrend

The second column (Trend) indicates whether the price of the asset moves within an uptrend (UP) or a downtrend (DN), as detected by our unique swing detection algorithm, on the selected timeframe.


The swing detection algorithm identifies pivot points (swings) with high accuracy. It works in real-time and does not need a look-a-head to find swings.

Ranges & Range Breakouts

The third column provides insights into the price behavior of a symbol within the selected timeframe, as analyzed by the range feature of the TRN Bars algorithm.

• ACTIVE – Price moves within a price range
  
• UP – Breakout detected
  
• DN – Breakdown detected
  
• UP CONF – Breakout confirmed
  
• DN CONF – Breakdown confirmed
  

The bar range feature automatically finds consolidations where the price range of several consecutives bars is rather small. The detection of the bar ranges includes among other things the overlapping percentage of these bars.

Divergence Detection for any given (Custom) Indicator

The divergence detector finds with unrivaled precision bullish and bearish as well as regular and hidden divergences. The main difference compared to other divergences indicators is that this indicator finds rigorously the extreme peaks of each swing, both in price and in the corresponding indicator. This precision is unmatched and therefore this is one of the best divergences detectors.


The build in divergence detector works with any given indicator, even custom ones. In addition, there are 11 built-in indicators. Most noticeable is the cumulative delta indicator, which works astonishingly well as a divergence indicator. Full list:

1. External Indicator (see next section for the setup)
   
2. Awesome Oscillator (AO)
   
3. Commodity Channel Index (CCI)
   
4. Cumulative Delta Volume (CDV)
   
5. Chaikin Money Flow (CMF)
   
6. Moving Average Convergence Divergence (MACD)
   
7. Money Flow Index (MFI)
   
8. Momentum
   
9. On Balance Volume (OBV)
   
10. Relative Strength Index (RSI)
    
11. Stochastic
    
12. Williams Percentage Range (W%R)
    

Another highlight of the divergence detection is that it works with every indicator, even custom ones. To do this, you must add the (custom) indicator to your chart. Afterwards, simply go to the “Divergence Detection” section in the indicator settings and choose "External Indicator". If the custom indicator has one reference value, then choose this value in the “External Indicator (High)” field. If there are high and low values (e.g. candles), then you also must set the “External Indicator Low” field.


The visualization of the divergence detection is represented in the fifth column (Div Bull) and the sixth and last column (Div Bear).

• REG – Regular divergence detected
  
• HID – Hidden divergence detected
  

Scanner Alerts

You can opt to receive alerts for the following scenarios:

• Detected up and down swings
  
• Detected bullish and bearish divergences
  
• Detected bar trend changes
  
• Confirmed Reversal Bars
  
• Confirmed Continuation Bars
  
• Confirmed ange breakouts
  

The alert function is activated for all symbols listed in the scanner and corresponds to the timeframe of the chart you are currently viewing. This ensures that you receive alerts specifically tailored to the symbols and timeframe you are interested in.

Risk Disclaimer

The content, tools, scripts, articles, and educational resources offered by TRN Trading are intended solely for informational and educational purposes. Remember, past performance does not ensure future outcomes.