B4 Indicator for TradingView, Thinkorswim and NinjaTrader
TradingView B4 Indicator
NinjaTrader B4 Indicator
Thinkorswim B4 Indicator
Thinkorswim B4 Scanner
Thinkorswim B4 Watchlist Column
Comments are welcome. Let us know how you use it, how it works for your trades!
This is how I like to trade this indicator and it is not to be considered trading advise. Many people are asking how I use this indicator so I decided to explain how I personally like you use this. This info is for educational purposes only and will be updated to reflect each new version as it evolves:
- Emphasize trading in alignment with the B4 midline direction. The synchronized trend label and B4 Trend line indicate the correct trading direction when in agreement.
- Enhance confirmation using Divergence analysis.
- Exercise caution during neutral trends, as they tend to result in unprofitable choppiness.
- Our updated squeeze logic now incorporates squeeze dots on the zero line and labels to signal squeeze conditions. To anticipate breakouts, consider drawing a chart wedge pattern upon sighting these indicators. Additionally, a yellow (default) cloud appears on the bands (if enabled in settings) when this condition is met. Breakouts often follow a squeeze, providing an opportune entry point. For insight into potential breakout direction, you can acquire our B4 Squeeze Indicator.
- Constricted bands indicate consolidation or equilibrium zones. Such levels often act as support and resistance areas. When the band is tightly constricted and the B4 Trend Line crosses above the upper band, a strong upward movement is typical. Conversely, when the band is tightly constricted and the B4 Trend Line crosses below the lower band, expect a downward move. Note the histogram color for optimal results.
- Widened bands with the trend line approaching indicate potential overbought or oversold conditions.
- The default alerts for band crossovers from both directions are set to the mid line for a cautious entry or exit points.
- Aggressive traders may opt to enter a position when the B4 Trend Line crosses the upper or lower bands. This method might not pinpoint exact tops or bottoms but provides valuable price trend information.
- The backdrop of B4 Trend Clouds offers supplementary confirmation. In confluence, the signals are either red or green by default. Discordance suggests turbulence or shifts in investor sentiment. (In some versions, these may be deactivated by default.)
- Initially, monitor the B4 Trend Line for the first trade confirmation. Often, it shifts from red to dark red or green to dark green . This serves as a primary guide when using the indicator.
- When the B4 Trend Line turns gray, it indicates indecision. Afterward, seek secondary confirmation upon its midline crossover for entry or exit decisions. Apply this approach for both entries and exits (useful for refining exit strategies).
- Lower risk-tolerant traders should consider scaling out or exiting positions when the B4 Trend Line turns gray or transitions from green to dark green or from red to dark red, especially upon crossing the upper or lower bands.
- A recommended practice involves zooming in the lower indicator to occupy the entire screen, obscuring the candles. Then, draw vertical lines to identify swing highs and lows. Upon returning to a standard chart view, the indicator's impressive accuracy becomes evident.
- Pay close attention to the Histogram; a dark green or dark red reading alongside candle reversals signals potential pullbacks or future reversals. Tightening stop-loss orders upon such observations can be prudent, especially when aiming to secure profits.
- Remember that a dark green histogram suggests bearishness, while a dark red indicates bullish sentiment.
- If you received a prior buy or sell signal and the histogram has subsequently shifted to dark green for long positions or dark red for short positions, your position within that trend remains intact until a contrasting buy or sell signal emerges. Should the histogram's momentum increase, it indicates a continuation of the trend, which should be confirmed by another buy or sell signal.
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