TrendMaster Pro 2.3 with Alerts

2 giu

Hello friends,

A member of the community approached me and asked me how to write an indicator that would achieve a particular set of goals involving comprehensive trend analysis, risk management, and session-based trading controls. Here is one example method of how to create such a system:

Core Strategy Components

• Multi-Moving Average System - Uses configurable MA types (EMA, SMA, SMMA) with short-term (9) and long-term (21) periods for primary signal generation through crossovers
  
• Higher Timeframe Trend Filter - Optional trend confirmation using a separate MA (default 50-period) to ensure trades align with broader market direction
  
• Band Power Indicator - Dynamic high/low bands calculated using different MA types to identify price channels and volatility zones
  

Advanced Signal Filtering

• Bollinger Bands Volatility Filter - Prevents trading during low-volatility ranging markets by requiring sufficient band width
  
• RSI Momentum Filter - Uses customizable thresholds (55 for longs, 45 for shorts) to confirm momentum direction
  
• MACD Trend Confirmation - Ensures MACD line position relative to signal line aligns with trade direction
  
• Stochastic Oscillator - Adds momentum confirmation with overbought/oversold levels
  
• ADX Strength Filter - Only allows trades when trend strength exceeds 25 threshold
  

Session-Based Trading Management

• Four Trading Sessions - Asia (18:00-00:00), London (00:00-08:00), NY AM (08:00-13:00), NY PM (13:00-18:00)
  
• Individual Session Limits - Separate maximum trade counts for each session (default 5 per session)
  
• Automatic Session Closure - All positions close at specified market close time
  

Risk Management Features

• Multiple Stop Loss Options - Percentage-based, MA cross, or band-based SL methods
  
• Risk/Reward Ratio - Configurable TP levels based on SL distance (default 1:2)
  
• Auto-Risk Calculation - Dynamic position sizing based on dollar risk limits ($150-$250 range)
  
• Daily Limits - Stop trading after reaching specified TP or SL counts per day
  

Support & Resistance System

• Multiple Pivot Types - Traditional, Fibonacci, Woodie, Classic, DM, and Camarilla calculations
  
• Flexible Timeframes - Auto-adjusting or manual timeframe selection for S/R levels
  
• Historical Levels - Configurable number of past S/R levels to display
  
• Visual Customization - Individual color and display settings for each S/R level
  

Additional Features

• Alert System - Customizable buy/sell alert messages with once-per-bar frequency
  
• Visual Trade Management - Color-coded entry, SL, and TP levels with fill areas
  
• Session Highlighting - Optional background colors for different trading sessions
  
• Comprehensive Filtering - All signals must pass through multiple confirmation layers before execution
  

This approach demonstrates how to build a professional-grade trading system that combines multiple technical analysis methods with robust risk management and session-based controls, suitable for algorithmic trading across different market sessions.

Good luck and stay safe!

5 giu

Note di rilascio

• Added example slippage and commission for the presented
  
• In the code, there was a mention and usage of alexgrover's function from the following script: https://www.tradingview.com/script/gD1gDOyI-Intersection-Value-Functions/