Draco
This unique script identifies choppy market conditions and highlights them on the chart. In addition, it provides entry and take profit signals based on the Chandelier Exit trading strategy. By combining these features, the script helps traders make better decisions by recognizing choppy markets and providing clear entry and exit points.
How to use the script:
Add the script to your chart.
Adjust the input parameters as needed:
Chop Length: Determines the length of the ATR used for detecting choppy markets.
Chop Threshold (%): Defines the percentage threshold for considering a market choppy.
Sensitivity: Sets the ATR Multiplier for the Chandelier Exit trading strategy. Choose from Regular, Passive, or Aggressive sensitivity settings.
Look for highlighted areas on the chart. These areas represent choppy market conditions, where trading is not recommended due to the lack of a clear trend.
Monitor the Entry signals (horizontal lines with 'Entry' label) for potential trade opportunities when the market is not choppy.
Why it's unique:
This script combines the detection of choppy markets with a proven trading strategy, making it a valuable tool for traders who want to avoid unfavorable market conditions and capitalize on trending markets. By providing clear entry and exit points, the script helps traders increase their chances of success and minimize risk.
How to use the script:
Add the script to your chart.
Adjust the input parameters as needed:
Chop Length: Determines the length of the ATR used for detecting choppy markets.
Chop Threshold (%): Defines the percentage threshold for considering a market choppy.
Sensitivity: Sets the ATR Multiplier for the Chandelier Exit trading strategy. Choose from Regular, Passive, or Aggressive sensitivity settings.
Look for highlighted areas on the chart. These areas represent choppy market conditions, where trading is not recommended due to the lack of a clear trend.
Monitor the Entry signals (horizontal lines with 'Entry' label) for potential trade opportunities when the market is not choppy.
Why it's unique:
This script combines the detection of choppy markets with a proven trading strategy, making it a valuable tool for traders who want to avoid unfavorable market conditions and capitalize on trending markets. By providing clear entry and exit points, the script helps traders increase their chances of success and minimize risk.