Trend Meter by Solah Azman
Most of the time I use trend following strategy because I'm quite new to trading and I don't monitor the market every day. If you are like me you probably only make a profit in the trending market. My strategy is simple, filter out price data during market consolidation by creating a buffer zone e.g. 5% (you may change the percentage) above and below long EMA. The indicator only generates value when the price is above or below the buffer zone. It stores closing price when it first exit before it enters back into the zone. This way, users can see exactly how much price changed during a trending market.
Here are some drawbacks:
1. It's super laggy, best used as a risk management tool rather than entry and exit signal.
2. Only works for daily chart.
Here are some drawbacks:
1. It's super laggy, best used as a risk management tool rather than entry and exit signal.
2. Only works for daily chart.