Complector

ITG Scalper

ITG Scalper by Complector.

Inspired by Juboal-Rabaroansa Perosteck Alseyn Balveda dam T'seif

Methology:
- I am using a TEMA ( triple EMA ) to determine the local trend direction and to give buy & sell signals when the trend changes.
- An optional filter, using moving average convergence divergence ( MACD ), can be switched on to filter out 'false' signals.
- The calculation of the TEMA does not request data from a resolution higher or lower than the resolution of the main charts symbol,
However, the filter function does, if another resolution is chosen for the filter.
- Persistent variables are used for buy and sell prices, enabling color-coding of the sell-signal (profitable or not).

Features:
- Color coded TEMA - bullish=green , bearish=red
- Buy/Sell indicator - Sell indicator: green=profit, yellow=loss
- Optional noise filter
- Optional variable time-frame for noise filter

Remarks:
In my experience, the default values works best on the daily time frame. I encourage everyone to experiment with the values for best results.
Using the script on non-standard charts (Heikin Ashi, Renko etc.) can produce unrealistic results.
Using a resolution higher or lower than the main charts symbol for the filter can possibly lead to repainting.


Thanks to Iain M. Banks for making my life richer :-)
Note di rilascio: - Added a function for displaying percental change of price since last buy/sell.
- Cleaned up the code and added some remarks.
Note di rilascio: - Buy/Sell signal is only given on bar close.
- Changed Buy/Sell signals from text to colored up/down triangles.
Note di rilascio: - The percent label change color depending on negative or positive value.
- Selectable use of a) labels w/price (max 50 visible) or b) plotshapes, for buy/sell signals.
- Modified the name of the script.
- Some cleanup of remarks.
Script open-source

Nello spirito di condivisione promosso da TradingView, l'autore (al quale vanno i nostri ringraziamenti) ha deciso di pubblicare questo script in modalità open-source, così che chiunque possa comprenderlo e testarlo. Puoi utilizzarlo gratuitamente, ma il riutilizzo del codice è subordinato al rispetto del Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.

Vuoi usare questo script sui tuoi grafici?

Commenti

Do u happen to have a thinkscript version of this please ??
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When I try to apply it get a message like "this indicator cannot be applied to another indicator"
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Hi, Can you please help me how to use this indicator. I am new to this and not sure what is the buy level and target levels.
I really appreciate your work.
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Complector ssvsraja
@ssvsraja, The indicator gives a buy or sell signal based on the local trend (up or down). If the local trend changes from bullish to bearish it will give a sell signal and if the local trend changes from bearish to bullish it will give a buy signal. The indicator detects the trend change based on a triple EMA. Buy or sell levels (price) is shown when selecting labels (instead of plotshape) in the settings for the indicator. Target levels are not implemented.
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ssvsraja Complector
@Complector, Thank you for your response. Can I use this for indian equity stocks
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This script is for crypto ar stocks?
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Complector Ciprian24
@Ciprian24, It will work on both.
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Thanks for this script. Can you please tell me how to backtest this in paper trading mode ?
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Complector Zeeshann
@Zeeshann, Sorry for late answer. I think you have to re-write the script, making it a strategy instead of a study, and use the strategy tester in Tradingview. Read up on pine script in the manual: https://www.tradingview.com/pine-script-docs/en/v4/index.html
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@line 100 you have an #alertcondition, will you get a notification or how does the alert work?
+good code
+profitable
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