TrendMaster V2

TrendMaster V2 is a comprehensive Pine Script indicator designed for TradingView. It combines multiple technical indicators and an advanced scoring logic to provide actionable trading signals. The script is highly customizable, allowing users to adjust trading modes, color themes, and signal filters according to their preferences and risk tolerance.

Key Features

Composite Scoring System:
The script calculates a composite score based on trend, momentum, pattern recognition, volume, volatility, divergence, Pearson correlation, and the CCI index. This score helps identify the best buy or sell opportunities.

Customizable Parameters:
Users can choose between “Aggressive,” “Balanced,” or “Conservative” trading modes, adjust indicator periods, and customize the color scheme of all visual elements.

Confluence Analysis:
The script evaluates the number of matching bullish or bearish signals, providing a confluence summary for higher-confidence trades.

Visual Signals:
Clear visual cues (triangles, circles, crosses) are displayed on the chart for strong buy/sell signals, confluences, and divergences.

Information Panels:
Two panels display real-time data such as score, RSI, volume, volatility, Pearson, CCI, trend, signal, and mode, along with the confluence status for quick reference.

Alert Conditions:
The script supports alerts for strong buy/sell signals, confluences, and divergences.

How It Works

Main Configuration:
Users select a trading mode (Aggressive, Balanced, or Conservative) and a color theme (Dark or Light).
Custom colors can also be set for bullish, bearish, strong, neutral, and signal elements.

Technical Indicators

• Moving Averages (SMA/EMA) for trend analysis.
  
• RSI to assess momentum and overbought/oversold conditions.
  
• MACD for trend confirmation.
  
• Volume and Volatility (ATR) for market activity evaluation.
  

Advanced Indicators

• Pearson Correlation to measure trend strength.
  
• CCI for cyclic momentum analysis.
  

Pattern Recognition

The script identifies common bullish and bearish reversal patterns (e.g., engulfing, hammer, morning/evening star) and continuation patterns (e.g., three white soldiers/black crows).

Composite Score

Each indicator contributes to a composite score, weighted according to the selected trading mode.
The score determines the strength of buy/sell signals.

Confluence Analysis

The script counts the number of matching bullish or bearish signals, providing a confluence summary for higher-confidence trades.

Visual Signals and Alerts

• Strong buy/sell signals: triangles
  
• Confluence signals: circles
  
• Divergences: crosses
  

Alerts are triggered for strong buy/sell signals, confluences, and divergences.

Usage Instructions

• Add the script to your TradingView chart.
  
• Adjust the settings in the configuration panel to match your trading style.
  
• Monitor the information panels and visual signals to spot trading opportunities.
  
• Set up alerts for your preferred signal types.