This script works very well for all assets across various timeframe charts. Good for use with scalping, long term swings, or in combination with multi-timeframe trading.
Surf the candles!
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This script is an improvement to the original Candle Surf indicator. This version allows for better custom control over period length and channel length. Typically both numbers are set to the same, but you can experiment by changing them to be different if you want.
This script works well for all assets across various timeframe charts. Good for use with scalping, long term swings, or in combination with multi-timeframe trading.
Green arrows and green backgrounds indicate a buy condition. Red arrows and red backgrounds indicate a sell condition.
Typically you would enter trades at the beginning of a new series of green arrows/red arrows. Successive arrows of same color indicate the condition is still true. No colored backgrounds with no arrows indicate a neutral condition.
Surf the candles!
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Symbol change, timeframe change
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Title edit, input label edits.
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Added candle filters. Candles opposing the signal direction are now "neutral", showing no signal or background coloring.
Added fast/slow length controls for convergences/divergences Added MA smoothing
******recommended to keep the same ratios of the settings inputs. For example, default settings are 20,40,20. If you want the indicator to react faster, lower the numbers but be sure to maintain the same ratio: 10,20,10 or 5,10,5 or 7,14,7....etc.******
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Renaming of settings labels
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Edited Moving Average setting
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Added momentum threshold setting
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Updated code to V4 Pinescript
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Updated V4 code, input labeling
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New Labeling and Signal Indications.
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Updated to Version 5 Pinescript. Improved accuracy changes.