Dow trend bands

Dow trend bands

This indicator is not only for trading but also for learning, thanks to it, you can learn to identify trend, support and resistance.

You've probably heard about the Dow trend theory, where higher highs and higher lows indicate an uptrend, and lower highs and lower lows indicate a downtrend. This indicator determines this trend based on the Dow Theory. You just need to enter a number representing the number of candles between extremes. The optimal solution is the number 3 (H1 TF), unless you want to have the trend from M5 but you're on M1, then you need to multiply this number by 5.
Additionally :
-Sound alert on trend change.
-Alert Notification
-Alert Notification on your mobile phone

Check various combinations to trade with the trend.

On the screenshot, you can also see the "Dow Histogram," which shows the trend in a different way.
Check my other indicators.
The indicator does not repainting, is set to refresh every minute, which means it refreshes after the first tick in each new minute.