If you make a loss, I am not responsible for it. Please use this with caution that includes proper risk and money management.
When I see a sell signal, I may short &/or close my long. When I see a buy signal, I may long &/or close my short.
The signal is most relevant for the exact time it comes on the chart. When the bar closes, it does not repaint. The signal can show up and disappear on a running bar. It DOES NOT repaint once the bar is closed.
Do realize that on bar close, the price may have moved significantly, and the signal may not be relevant anymore. So, it needs to be used with caution whether one uses this as soon as a signal appears or on bar close. This is not suitable for the highly large timeframe (ake over 1day). I use it on 1 day and monthly on the lower timeframe.
My primary motivation for building this was three - 1) To ensure I am not addicted and not looking at the chart 24/7 2) To ensure I do not spend a lot of time & resources on multiple indicators 3) I have a consistent profit that can help me in my poor living expenses. 4) Recently, during the huge drawdown, I noticed that my other indicator (tradingview.com/script/HgItwu0V-Indicator-from-Joy-for-Crypto-Forex-Futures-Stocks/) was unable to act as quickly as needed as the volatility happened in the lower timeframe. It made me realize that I need to do something to protect my capital in the future. Hence, the idea for this indicator. 5) I use this indicator alongside my other indicators that are showing the chart as well.
You do not need to use all of these indicators. I have them always on my chart as I showed above.
The buy and sell shown with a blue background is the one coming from this indicator. The only thing that one can customize is colour.
This indicator differs significantly from my other indicators. This indicator prints less signal as careful work went in to reduce noise as much as possible and is to be used for 1 day or less tf.
I use it alongside other indicators for confirmation bias. The other indicators I use are the ones that come from me as well as shown on the chart.
This can possibly be used for other instruments. As I only use it for trading BTCUSD, I have crudely tested for BTCUSD after the dump and has been doing ok so far.
The code is written in Version 4 of pine script. If there are bugs, please let me know.
For info on gaining access see the ⬇ link below ⬇ in our signature field & direct message me. I have a busy schedule at my own workplace. Trading is my hobby. Hence, please be kind to me if I am late in replying
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The only change is that I have updated the title of the indicator slightly. Very minor change.
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Removed a bit of logic that is good but flips often. As it flips open, I need to add stop loss. That was not there and hence it made me anxiously awake at night.
Fixed the alert statements to be more readable
Added more robust buy/sell. Check on 4 hour for an example.
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* Combined the Super Algorithm with Local top & bottom indicator & Bearish/Bullish indicator in such a way that you can turn those two on as well from the same indicator
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* Updated the text that the indicator shows on the chart
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Fixed a bug where the alerts were firing a bit inconsistently. It should only fire when we have bearish/bullish on the screen.
Do realize that I use this with 1 day or 2-day timeframe only. Any other timeframe does not seem to produce the same kind of result
In my chart, I am using my Super Algorithm indicator and Leledec. I use the indicator "mostly" on bar close.
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In the chart above you will find that I use Hash Ribbon alongside my Super Algorithm. This is a free indicator form tradingview.com/script/kT7jIvqv-Hash-Ribbons/. I love it to determine the super macro trend. It is showing Buy when I publish my Super Algorithm script.
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Update Notes:
Recently I was short. However, the market turned. I looked deep inside the code. And found out the reason where the code may have gone wrong. Now, I am trying to also look at the green and red volume of the last few bars that are of certain kinds and use that in the logic. This has possibly solved the issue. I wish I had it earlier a few days back.
I have added colours to the bars. The colours are as below: - Red -> Possibly a good time to open SHORT - Yellow ->CAUTIOUS! It may be risky to open new SHORT here. Bulls are getting weaker. - Green -> Possibly a good time to open Long - Purple -> CAUTIOUS! It may be risky to open new LONG here. Bulls are getting weaker.
In my chart, I also use several other free indicators that are mostly turned off. I use those to check my strategy. My "Super Algorithm Indicator" does not use any of the following indicators. * TD Sequential from tradingview.com/script/eJmcptRT-TD-Sequential/ * HIgher High HIgher Low Strategy from tradingview.com/script/vcg3prja/ * Volume as found from default Trading View * DPMO as found from tradingview.com/script/F3KoQWAR-DPMO/ * Parabolic SAR as found from default Trading View
Please NOTE The following about the colouring of bars. It is important:
- Red -> Possibly a good time to open SHORT - Yellow ->Bears are getting weaker. - Green -> Possibly a good time to open Long - Purple -> Bulls are getting weaker.
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Updated the alerts to have more alert options
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Fixed a typo in code
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Added alert for all colour types of bar
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* Fixed a major bug. The bull and bear alerts were interchanged. I do not know-how. Fixed now.
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Added more vivid displays and vivid signs on the menu
Added up and down arrows respectively when ichi tenkan is below ichi kijun or ichi kijun is above ichi tenkan
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Steps to use the indicator script
Bullish - I usually open a long position when I see the bullish sign on base close. I usually also close any existing short position.
Bearish- I usually open a short position when I see the bearish sign on bar close. I usually also close nay existing long position.
The red/green dots - I usually cash out some profits when I see that sign on bar close.
X on top- when i see a cross on the top (bar close only) , I usually take some profit from existing long position. If I have a short position running, I might add to existing short. X on top indicates longs are getting risky.
X on bottom - when i see a cross on the bottom (bar close only) , I usually take some profit from existing short position. If I have a long position running, I might add to existing long position. X on bottom indicates shorts are getting risky.
Other signs including bar color, background color, etc are all not directly used. Those are all there for me to get a gauge of the market. Do note that I would usually NOT add to any existing long position when bar color is purple or bacground color is red. I would usually NOT add to any exiting short position when bar color is yellow or backround color is green.
@RedBeard_0x, Sure you will need to direct message me.
soibamjk
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Sir please provide me access
Joy_Bangla
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Code uprgaded and indicator deprecated
Joy_Bangla
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Other than obvious Bullish and Bearish sign, note the colour change of the bars:
- Red -> Possibly a good time to open SHORT
- Yellow ->Bears are getting weaker.
- Green -> Possibly a good time to open Long
- Purple -> Bulls are getting weaker.
financialApp2756
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Can i get an access, please
protrader1985
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PLS GIVE ACCESS
Qfgyter45
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Hello Sir
could I get access to this indicator please
Saw your post in twitter and was curious :D